||||accessed the grants through<br>loopholes in the legislation<br>allowing them to apply in the<br>names of their children - all aged<br>between four and 12.<sup>1)</sup>|che:0sbgqt15r9UJ:www.aaa.asn.au/<br>pub/issuessheet/costs98.pdf+%22so<br>uth+australia+stamp+duty%22&hl=e<br>n&ie=UTF-8|
|---|---|---|---|---|
|**Bahama**|The Bahamian government charges a stamp tax on<br>all real estate sales or transfers. Under the Stamp<br>Tax Act, this tax is split between the buyer and the<br>seller unless otherwise specified or agreed to by<br>both parties.<br>Rates:<br>Up to and including $20,000 – 2%<br>From $20,000.01 to $50,000 – 4%<br>From $50,000.01 to $100,000 – 6%<br>From $100,000.01 to $250,000 – 8%<br>From $250,000.01 and over – 10%<br>There is no Government Stamp Tax to be paid on a<br>sale to a first time home buyer purchasing a home<br>valued up to $250,000.<sup>1)</sup>In addition to duties, The<br>Bahamas charges a 7 percent “stamp tax” on most<br>imports. Higher stamp taxes are charged on some<br>duty free goods, including tourist items such as<br>china, crystal, wristwatches, clocks, jewelry, table<br>linens, leather goods, perfume, wine and liquor. On<br>average, The Bahamas charges an export stamp tax<br>of 4 percent on most exports from the country.<sup>2)</sup>|||1)http://www.damianos.com/Sellers/<br>CommissionAndStampTax.asp<br>2)http://www.usatrade.gov/website/c<br>cg.nsf/CCGurl/CCG-<br>BAHAMAS2002-CH-6:-00683220|
|**Belgium**|<br>Stamp duty is imposed at 0.5% for contributions to a<br>Belgian holding company. A contribution is a legal<br>transaction involving a transfer of money or assets<br>(tangible or intangible) to a company in return for<br>equity instruments issued by that company. At least<br>some contribution is required to incorporate a<br>company. No stamp duty arises, however, if debt<br>instruments are issued, except in the case of some<br>real<br>property<br>transactions.<br>Some<br>forms<br>of<br>contribution (usually in connection with a corporate<br>reorganization or a share-for-share acquisition) are<br>exempt from the 0.5% stamp duty if fulfill some<br>requirements.|||Hinnekens, P., et al., Belgium’s<br>Holding Company Regime -The<br>Dividends-Received Deduction and<br>Capital Gains Exemption for Shares,<br>IBFD, August 2001.|
|**China**|<br>Since the taxation reform in 1994, China has<br>practiced a financial system based on separate tax<br>system; and according to the principle of unifying the<br>right of finance and work, it has divided rationally the<br>financial revenue of the central and local<br>administrations. The central government, through<br>the system of tax rebate and transfer payment<br>regulates the financial revenue of various districts.|**1. Saturday, 30 September**<br>**2000**<br>The Chinese State Council has<br>decided to raise the central<br>government's share in stamp<br>tax on securities trading,<br>starting from October 1. The<br>share of the central government|For proposal in 2003:<br>Experts have been calling for<br>further reduction as there is still<br>more room for a downward<br>movement compared to<br>international standards.<br>Tax revenue from the Shenzhen<br>and Shanghai stock exchanges|_1)http://www.qis.net/chinalaw/prclaw_<br>_98.htm_<br>2)http://fpeng.peopledaily.com.cn/20<br>0009/29/eng20000929_51563.html<br>3)http://www.southcn.com/english/ne<br>ws/money/200302270516.htm<br>4)http://www.ccpit.org/vhosts/english<br>/Taxation.htm|

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