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Article 5 General Agreement

When Article 5 was drafted in the late 1940s, there was consensus on the principle of mutual assistance, but there were substantive differences of opinion on how to implement this obligation. European participants wanted to ensure that the United States automatically came to the aid if one of the signatories was attacked; the United States did not want to make such a commitment and obtained that this was reflected in the text of Article 5. Stamp duty is a tax due on the performance of certain instruments or documents under the Indian Stamp Act of 1899 (“IS Act”) or the corresponding national stamp law. In the absence of state stamp laws, ISIS law applies. With regard to stamp duty, the general principle is that the tax must be determined by reference to an instrument and not to a transaction. [See final note 3] Therefore, in order to understand the stamp duty requirement for a given transaction, it is important to understand the instruments involved in the transaction and the purpose of the instrument. [See final note 4] The KS Act departs from the BS and IS law, taking into account the specific provisions relating to the transfer of property and real estate within the meaning of Article 5 of the KS Act. Art. 5 E-Buchstabe e KS-Gesetz imposes stamp duty levied on an agreement to sell land with partial execution of the contractual contract. When the property is delivered or agreed before the transport is carried out, the prescribed stamp duty is in accordance with the section 20 obligation with respect to a deed of transport. Like the BS Act, the KS Act also provides a basis for calculating stamp duty on the tax paid on the transport record. If ownership of the property is not delivered, the responsibility for the stamp is limited to these agreements at twenty thousand INR. According to Politico of 19 March 2017, the UK and the EU are preparing a 10-year, duty-free interim agreement based on WTO rules, and this is a “Plan B” if the two sides fail to agree on a free trade agreement before the UK leaves the EU, probably by 28 March 2019.