Stamp duty is an important tax in many countries. In Australia, New Zealand, and the United Kingdom, it is levied on documents relating to the sale of property. Examples of these documents are conveyances (transfers of ownership) of land or buildings, and transfers of shares and other property. Some stamp duty, such as that paid on the conveyance of land or buildings, is known as ad valorem. This means the amount paid is in proportion to the value of the property. Stamp duties are also levied in Ireland, Malaysia, Singapore, and South Africa.
The Dutch levied the first stamp duties in 1624. In 1694, the English used the stamp plan to raise money for a war with France. The British Stamp Act of 1763 was one of the direct causes of the American colonial revolt against Great Britain (now the United Kingdom).
See also Stamp Act .
