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Multiple transactions to the same vendor on the same day when the combined total of the orders exceed the Purchasing Card transaction limit of $2,500 is considered splitting purchase transactions. Whether the action is intentional or not, it is a violation of the SC Procurement Code.
The REIQ claims the 3% surcharge would almost double the stamp duty payable on a $600,000 purchase from $20,000 to $38,000 and said there needs to be more clarification around who is considered a foreign buyer. âThatâs not a small amount â it almost doubles the stamp duty,â Mercorella said.