Finance Minister Tweaks $14Bn Stimulus Package

  • Minister of Finance and the Public Service, Dr. the Hon Nigel Clarke, has announced changes to the recently announced $14-billion stimulus package.
  • Closing the 2019/20 Budget Debate in the House of Representatives on March 20, Dr. Clarke noted that the ad valorem Stamp Duty payable on any instrument pursuant to the Stamp Duty Act will be replaced with a flat stamp duty of $100 per document/parcel related to transactions valued below $500,000, and $5,000 per document related to transactions valued at $500,000 and more.
  • It is pertinent to note that the ad valorem calculation for Betting and Gaming tickets remains unchanged.

(Source: JIS)