Acting Controller of the Department of Inland Revenue, Shunda Strachan appeared at a press briefing at the Office of the Prime Minister on Thursday where she spoke about the government’s stamp duty amnesty initiative.

Strachan explained, “in most years you paid 10% on the value of the property. So back then it probably was 10% of that $100,000, you’re still looking at $10,000. So the amnesty has an added benefit because you get two things going for you, you get to take advantage of the old value which is lower and you also get to take advantage of the current rate which is lower. So we have now a threshold of rates that range from 2.5% all the way up to that dreaded 10% that we always used to pay in the past. So you’re kind of really benefitting, you’re really saving if you take advantage of that amnesty now.”

According to the Controller persons can deal with any property or business transfers on their portal. She said, “it cuts down on the time that you have to spend interacting with us. It’s like the first step in what we’re doing to improve that whole process. So we’re starting off by you submitting the document online. We tell you what your bill is online. You can even pay online now, that’s an added benefit. Before you had to come to us to pay. The only thing you still have to come to us for is really to present that document after payment has been made or if you have come to pay to have the stamp affixed.”

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