CEVAP:

Tax Object: Stamp tax applies to a wide range of documents listed in Annex I of Stamp Tax Law No. 488. Stamp tax levied documents, which are functional to document and prove one’s claims, are including but not limited to, contracts, agreements, notes payable, letters of credit and letters of guarantee, financial statements and payrolls.

Taxable Event: Stamp tax arises with the signing of the taxable documents.

Tax Payer:The parties who sign a document on which stamp duty is imposed are liable to pay stamp tax. The Law No. 488 provides that each relevant party shall be responsible for payment of the total amount of stamp tax on the documents.

Tax Base & Tax Rate-Amount: Stamp tax is levied according to the type of documents at different tax rates or lumpsum amount listed in Annex I of the Stamp Tax Law.

Tax Exemption: Documents exempt from stamp tax are listed in Annex II of the Law No. 488.