TCI Government Amends Stamp Duty Waiver Policy

TCI Government Amends Stamp Duty Waiver Policy

The urks and Caicos Government announced the amendment of the Turks and Caicos Islands Covid-19 Stamp Duty Waiver Policy which came into effect on 21st September, 2020. The amendments are as follows:

  • 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 30th 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 1st-30th, 2020.

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