Cryptocurrency Q&A
Who pays STT?
Who pays STT?
KDramaLegendaryStarlightFestival
Sat Aug 10 2024
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7 answers
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Who exactly is responsible for paying the Securities Transfer Tax (STT)? Is it the buyer of the securities, the seller, or both parties involved in the transaction? Are there any exemptions or exceptions to who has to pay the STT? Additionally, how is the STT calculated, and what factors determine the amount that needs to be paid? Understanding the specifics of who pays the STT is crucial for ensuring compliance with relevant regulations and avoiding any potential penalties.
7 answers
Giuseppe
Mon Aug 12 2024
Furthermore, if no consideration is paid for the transfer of securities, STT is still payable. This applies to both private and public share transfers.
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CryptoTitan
Mon Aug 12 2024
The party responsible for paying STT varies depending on the nature of the securities being transferred. For private shares, the company that issued the shares is liable to pay STT.
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CryptoWizardry
Mon Aug 12 2024
In contrast, for listed shares traded on a regulated exchange, a regulated intermediary, such as a broker or dealer, is responsible for remitting STT on behalf of the transacting parties.
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SsangyongSpirited
Mon Aug 12 2024
Securities transfer tax (STT) is a levy imposed on the transfer of securities, such as shares. This tax is payable when securities are traded between parties.
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GangnamGlitzGlamourGlory
Mon Aug 12 2024
In situations where the declared consideration for the transfer of securities is less than their market value, STT becomes applicable. This ensures that the tax base is not understated and fair market valuation is considered.
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