Stamp Duty Policy Waiver

MINISTRY OF FINANCE

TURKS & CAICOS ISLANDS GOVERNMENT

PRESS RELEASE

Stamp Duty Policy Waiver

The Ministry of Finance would like to inform the public that Cabinet at its recent meeting approved the following amendments to the Turks and Caicos Islands Covid-19 Stamp Duty Waiver Policy which came into effect on 21^st September 2020:

• The removal from the Affidavit Form of the five (5)-year restriction on the acquired property;
• An extension of the fifty percent (50%) Stamp Duty concession rates timeline to the 30^th November 2020 on the transfer of immovable property or any real right such property, valued up to $2 million, made from 21st October; and
• An extension of the twenty-five percent (25%) Stamp Duty concession rate which will now take effect from to December 1^st-30^th, 2020.

Note that these amendments will take effect 9^th November 2020 for all properties (under $2,000,0001) transacted during the period 9^th November 2020 to 30^th December 2020. The revised Affidavit Form which can be found on www.gov.tc must be submitted with all applications effective 16^th November 2020.

For more information, please contact the Ministry of Finance.

ENDS