Stamp duty waiver on construction not because I’m building new home
Premier Andrew Fahie has dismissed the notion that the recently passed amendments to the Stamp Duty Act were in any way linked to the construction of his home.
During a recent House of Assembly (HOA) sitting, Premier Fahie disclosed that a government committee was set up to discuss issues surrounding the fallout from the Russia/Ukraine crisis.
According to the Premier, some of the initiatives discussed when the committee met included efforts at mitigation for the construction, marine and trade sectors.
“I smiled because I said I don’t mind doing the Stamp Duty [Act amendment]. I don’t mind doing all of them but I can hear it now with the one for the building [aspect] that you all are suggesting,” Premier Fahie said he told the committee.
“They asked me, ‘why Premier?’, [and] I said that I am building now and the first thing they’re going to say is that I brought it up because I am building,” the Premier expressed.
The Premier described this as one of the ‘drawbacks’ of the initiatives that were being proposed.
He said the idea came from other persons on the committee.
This is the second time in recent weeks that Premier Fahie has publicly defended the construction of his new home.
Since 2020, the government has offered “special exemptions” for the waiver of stamp duty on the sale or transfer of property to Belongers. This was a part of a greater economic stimulus measure implemented in response to the effects of the COVID-19 pandemic. This initiative later expired on December 31.
Thereafter, the government said the stamp duty waiver will continue for an additional year. However, it is now only applicable to Belongers who are first-time land and property owners. This was successfully sanctioned during a recent sitting of the House of Assembly.
Editor’s Note:
For the period May 2020 to December 2021, the government said there were 513 sale transfers while the total amount of stamp duty exempted on sales was $5,543,481.00.
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Free duties on basic goods like food and fuel. Not everyone has a construction company, building a home, owns a boat charter business, or earning nuff.
Premier you need to look into the people here who are working with Nigerian scammers and taking people deposits and sending them to Nigeria and giving you a run around to finish your job. Even got a big one living up belle vue and every Sunday he down New Life SMH
I know exactly who you are talking about, he is always outside Western Union and Moneygram begging people to send money for him cause they blocked him because of his involvement with the Nigerian Scammers. HIS PICTURE IS POSTED ON A FACEBOOK SCAMMER PAGE (419 Scam Alert) I never expected something like that from him
@scaammers If people are stupid enough to believe they win money or other foolishness and are giving away their hard earn money to get money they “win” they all deserve to loose it.
No, what I’m saying is that he is taking deposits for JOBS and sending it to his Nigerian pals and then giving the people all sort of lies about materials delayed or some foolishness.
What people need to do is stop sending money for him because their names are being monitored and might be labeled as his accomplices. Just be very careful
No one thinks that because you are building that you would institute this. In fact, folks are relieved to know that ain’t no chance of a tax on food, because that would really hurt your wallet.
Consideration should be made to exempt custom duties on baby formula and other basic needs that the people are unable to afford. This is putting the people first.
thats what boobs are for
This guy protests too much. Guilty conscience? Run the Territory and stop the stupid f**kry!
Is it my tax money building your home?????
No, but d**g money might be.
So he fixing up he self because he now start a mansiok n?
This man have a real persecution complex, he must be hiding something
Too convenient …
have a real estate agency – no land tax (Is it included in my cost?)
building a house – no duty on building material
All this done with the territory’s interest at heart!
This is halarious
Given the nature of the human mind, that head probably has but a nano grain of truth in it.
Should read, that head line.