Land Tax (Amendment) Act (No. 48 of 2007)

Supplement to Official Ga:zette No. I 05 dated 20th December. 2007 LAND TAX (AMENDMENT) ACT, 2007 - 48 AJTangement of Sections Section L Short title. 2. Amendmentofsection6ofCap. 78A 3, htsertion of sections 6A, 6B, 6C, 6D, 6E, 6F, 6G and 6H into Cap, 78A, 4, Amendment of section 44A of Cap, 78A 5. CornmcnvanwL BARBADOS 2007 - 48 I assent C. STRAUGHN HUSBANDS Governor-General 20th December, 2007. An Act to amend the Land Tax Act, Cap. 78A. (20thDecember,2007). C=-~· ment FNACTEDhy the PllrlinmBnl·ofRarh:uimi as follows· 1. This Act may be cited as the Land Tax (Amendment) Act, 2007. Short title. 2. Sc:vtion 6 of thi, Larid Tax Act, in this Act .referred to as the principal Act, is amended by deleting subsections (2A), (2B), (2C), (2D ), (2E), (3) and (4). Amendment of ~~hon 6 of Cap. 78A. 2 LAND TAX (AMENDMENT) ACT, 2007 - 48 tn&Crtion of 3. llleprinctpaIActisamendedbyinsertingthetbllow:tngsections new immediately after section 6: se<:tions 6A, 68, 6C, 6D, 6E, 6F, 001md dH into Cap. 78A. "Tax payable on residential property, Tux ~yabl~ by' pensioner. 6A. Where a person owns land on which a dwelling house is erected and the dwelling house is used exclusively as a residence, that person shall pay tax at the rate specified under section 6( 1 ). 6B. (I) A pensioner shall pay tax at the rate specified under section 6( 1) and the acll.lal amount payable shall be calculated (a) on 50 per cent of the amount by which the improved value exceeds $125 000; and (b) with effect from lstApril 2008, on 50percent of the amount by which the improved value exceeds $150,000. (2) No reduction shall be pennitted under sub section (I) unlesg, (a) the land in respect of which the tax ia levied is owned by the pensioner and has a dwelling house thereon; and (b) the dwelling house is used exclusively by the pensioner and his immediate family for their pennanent habitation. (3) For the pulJ)OseS of subsection (1), "pensioner" means a person who satisfies the Commissioner that (a) he is in rec;eipt of a pension and has attained the age of60 years; and (b) he isordinarilyresidentinBarbados. LAND TAX (AMENDMENT) ACT, 2007-48 TH payable by a hotel. cap. 342. Tax payllble in respel':t or villas, Tu. payable by lhe Grantley A Airport tnc. Cap. JOB. 6C. A hok:l shall pay lax at the rate specified under section 6(1) and the actual amount payable shall be calculated on 50 per cent of the improved value of the land; but no such reduction shall be permitted unless it is a hotel within the meaning of section 2 of the Barbados Tourism Authority Act. 6D. (1) The proprietor of a villa ~hall payt.ay ~t the rate specified under section 6(1) and the actual amount payable shall be calculated on 75 percent of the improved value of the land, (2) For the purposes of subsection (I), (a) "proprietor'' includes the owner of a villa and any person, not being the owner, who for the time being has immediate control over the management of the villa; (b) "villa" means a house that (i) bas at least three bedrooms and is valued at not less than $525 000; (U) is managed by a company or real estate agen~ and employs no less than 3 persons; (LU') is rc;gistcrod with tht: Barbatlus Tourism Authority; and (iv) is available for the accommodation of guests fur reward for at least9 months in every year. 6E. (I) The Grautley Adams International Airport Inc., a company incorporated under the Companies Act, shall pay tax at the rate specified under section 6(1) and the actual amount payable shall be calculated on SO per cent of the improved value of the land. 3 4 Amendment of section 44A of Cap. 78A. LAND TAX (AMENDMENT) ACT, 2007-48 Tait payable by Queen Elizabeth HospitaL i00I-14. Tax payable by Port Authority Inc. Cap. 308. Detlaration as a con• dition J'>fflCl!<l~nt to the reduction of tax. (2) Snh.:ectinn (l)rlnP.s:nnt.ar,plytn lanrl inm,q'ICCt. of which the Grantley Adams InternationalAJrport Inc. has crealcd a tenn of years. 6F. {l) The Qucc.n Ulizabcth Hospital Doard, established under the Queen Elizabeth Hospital Act, shall pay tax at the rate specified under section 6(1), and the actual amount payable shall be calculated on 50 per cent of the improved value of the land. (2) Subsection (1) does into apply to land in respect of which the Queen Eliz.abeth Hosvital Board has created a term of years. 6G. (I) The Barbados Port Inc., a company incorporated under the Companies Act, &hall pay tax at the rate specified under section 6(1 ), and the actual amowit payable shall be calculated on SO per cent of the improved value of the land. (2) Subsection (1) does notapplyto land in respect of which the Barbados Port Inc. has created a tenn of years. 6H. No person shall be entitled to pay the tax on the basis prescribed by section 6A, 6B, 6C, 6D, 6E, 6F or 6G unless that person has submitted to the Commissioner a declaration in respect of the matters specified in those sections; and the matters so specified are conditions precedent to the payment of the tax at the reduced rate.". 4. Section 44Aof the principal Act is deleted and the following is substituted: "F~lse declarations, 44A. A person who, forthepurposesofsection6A, 6B, 6C, 6D, 6E, 6F or 60 makes a fulse declaration which LAND TAX(AMENDMENT)ACT, 2007-48 to his knowledge is false in any particular. is guilty of an offence and is liable on summary conviction to a fine of $10 000 orto imprisonment for6 months orto both.". 5 5. Sections 62E, 62F and 62G, inserted by section 3 of this Act, Commtrtc~ take c ffect from the lstdayofApril, 2005. menc