Government reassures on Stamp Duty

Monday July 4th, 2011

The Government will use real estate transaction prices, as stated on conveyancing documents, to determine Stamp Duty due unless the value appears to be vastly 'out of sync' with the prevailing market.

Zhivargo Laing, minister of state for finance, gave the commitment at Friday's Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) Captains of Industry Awards, moving to ease concerns about the increasing use of real property tax valuations to determine Stamp Duty payable on real estate deals.

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