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In 1881, the Customs and Inland Revenue Act was passed in the United Kingdom, and it stated that "stamp duties of one penny may be denoted by postage stamps, and vice versa." [ 4 ] This led to dual-purpose stamps being issued, starting with the Penny Lilac of 1881 and the Lilac and Green Issue of 1883–1884.
Inland Revenue stamps were introduced in 1860. Initially, the 1855 stamp was overprinted Inland Revenue, but sets of new stamps were issued later on that year. A number of Inland Revenue stamps were issued over the next two decades, both surface printed designs depicting Queen Victoria, as well as embossed adhesives with an underprint. [12]
Under the Inland Revenue Act of 1849 the control of revenue stamps transferred from the Excise Department to the Stamp Department at Somerset House. Proofs and specimens of stamps from 1710 were also deposited. The Stamping Department produced revenue and fee stamps until 1934 when responsibility was transferred to the Stationery Office. [1]
An 1875 £3 chancery revenue stamp of the United Kingdom. Stamp duty was first introduced in England on 28 June 1694, during the reign of William III and Mary II, under "An act for granting to their Majesties several duties upon vellum, parchment and paper, for four years, towards carrying on the war against France". [3]
Foreign investors are also subject to a stamp tax. Stamp taxes in China are governed by "Provisional Regulations of the People's Republic of China Concerning Stamp Tax Detailed Rules for Its Implementation", implemented in 1988. In 1997, stamp taxes produced revenue of 26.63 billion yuan and comprised 3.6% of China's gross domestic product.
The Penny Lilac was the basic penny postage and revenue stamp of the United Kingdom from its first issue on 12 July 1881 until 1901. [1] It superseded the short-lived Penny Venetian Red because the Customs and Inland Revenue Act 1881 necessitated new stamps that were valid for use as both postage and revenue stamps, and so the Penny Lilac was issued in that year, inscribed "POSTAGE AND INLAND ...
The reform did not settle the issue of who paid for the postage, as it still remained optional for a number of years in spite of Hill's efforts as Secretary to the Post Office to alter the situation. As of 2013 the value of one penny in 1840 ranges from 32p to £4.89; the latter based on mean income. It would appear that the cost to an ...
The new low values were also surface-printed: first was a penny stamp coloured Venetian red in a square frame, issued in 1880. However, the passage of the Customs and Inland Revenue Act 1881 necessitated new stamps valid also as revenue stamps , and so the Penny Lilac was issued in that year, inscribed "POSTAGE AND INLAND REVENUE".