STAMP DUTY ORDINANCE (AMENDMENT) REGULATIONS 2013 Arrangement of Regulations REGULATIONS
1. 2.
Citation and commencement Amendment of Stamp Duty Ordinance
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STAMP DUTY ORDINANCE (AMENDMENT) REGULATIONS 2013 (Legal Notice 21 of 2013) MADE by the Acting Governor under section 39 of the Stamp Duty Ordinance. Citation and commencement
Amendment of Stamp Duty Ordinance
1. These Regulations may be cited as the Stamp Duty Ordinance (Amendment) Regulations 2013 and shall come into operation on 1st July 2013. 2. “Head 4 Conveyance on Sale” of Schedule 1 to the Stamp Duty Ordinance, is amended by deleting paragraphs (b) and (c) and substituting the following -
“(b) in Grand Turk, South Caicos, Middle Caicos, North Caicos and Salt Cay—
(c)
(i) where the amount or value of the consideration exceeds $25,000 but does not exceed $100,000 and the instrument is certified in accordance with section 24;
(b)
(i)
$5 for every $100 or part thereof of the amount or value of the consideration
(ii) where the amount or value of the consideration exceeds $100,000
(b)
(ii)
$6.50 for every $100 or part thereof of the amount or value of the consideration
(c)
(i)
$6.50 for every $100 or part thereof of the amount or value of the consideration
elsewhere in the Turks and Caicos Islands than specified in paragraph (b)– – (i) where the amount or value of the consideration exceeds $25,000 but does not exceed $250,000 and the
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instrument certified accordance section 24;
is in with
(ii) where the amount or value of the consideration exceeds $250,000 but does not exceed $500,000;
(c)
(c)
(iii) where the amount or value of the consideration exceeds $500,000
Exemption A conveyance of any property by way of gift to or in trust for the spouse, parent or child of the person conveying or, where the Permanent Secretary, Finance, certifies that he is satisfied that the conveyance is not made for valuable consideration, to that person’s brother, sister, grandparent or grandchild.�.
MADE this 17th day of May 2013.
ANYA WILLIAMS ACTING GOVERNOR
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(ii)
$8 for every $100 or part thereof of the amount or value of the consideration
(iii) $10.00 for every $100 or part thereof of the amount or value of the consideration.
(B)
30 days execution
after
(C)
All parties and all other persons executing
EXPLANATORY NOTE (This note is not part of the Regulations) These Regulations amend Head 4 of Schedule 1 to the Stamp Duty Ordinance to provide for an increase in the stamp duty payable on a conveyance for immovable property in the Islands with effect from 1st July 2013.
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