This is the tax due when a piece of real estate changes hands. This tax equals 4.4 percent of the “declared amount” of the real estate and is paid in equal quantities by both parties to the transaction. However, sellers frequently tend to shift the full burden to the purchasers. As a result, mostly the buyer ends up with paying the stamp duty.
Stamp Duty
This is the tax due when a piece of real estate changes hands. This tax equals 4.4 percent of the “declared amount” of the real estate and is paid in equal quantities by both parties to the transaction. However, sellers frequently tend to shift the full burden to the purchasers. As a result, mostly the buyer ends up with paying the stamp duty.