Land Tax (Amendment) Act, 2019

LAND TAX (AMENDMENT) ACT, 2019

OBJECTS AND REASONS

This Bill would amend the Land Tax Act, Cap. 78A to provide for

a write-off of outstanding tax, penalties and interest for the period commencing from the 1st April, 1981 to the 31st March, 2001; and

a waiver of the amount payable as a penalty or interest on arrears of tax for the period commencing from the 1st April, 2001 to the 31st March 2018.

(a)

(b)

LAND TAX (AMENDMENT) ACT, 2019

Arrangement of Sections

Short title

Insertion of sections 28E and 28F into Cap. 78A

1.

2.

3

BARBADOS

A Bill entitled

An Act to amend the Land Tax Act, Cap. 78A to provide for

a write-off of outstanding tax, penalties and interest for the period commencing from the 1st April, 1981 to the 31st March, 2001; and

a waiver of the amount payable as a penalty or interest on arrears of tax for the period commencing from the 1st April, 2001 to the 31st March 2018.

ENACTED by the Parliament of Barbados as follows:

(a)

(b)

Short title

This Act may be cited as the Land Tax (Amendment) Act, 2019.

Insertion of sections 28E and 28F into Cap. 78A

The Land Tax Act, Cap. 78A is amended by inserting after section 28D, the following sections:

“Write-off of taxes, penalties and interest for the period 1st April, 1981 to 31st March, 2001

Where an amount payable to the Revenue Commissioner as tax or as a penalty or interest in respect of arrears of tax for the period commencing from the 1st April, 1981 to the 31st March, 2001 is outstanding, that amount is written off.

Waiver of penalties and interest for the period 1st April, 2001 to 31st March, 2018

Subject to subsection (2), where an amount payable to the Revenue Commissioner as a penalty or interest in respect of arrears of tax for the period commencing from the 1st April, 2001 to the 31st March, 2018 is outstanding, that amount is waived.

The waiver referred to in subsection (1) applies only where, in the period commencing from the 1st July, 2018 to the 31st May, 2019, the person by whom the penalty or interest is payable

settles the arrears; or

enters into an agreement with the Barbados Revenue Authority to settle the arrears and remains compliant with the conditions of the agreement.”.

28E.

28F.(1)

(2)

(a)

(b)

1.

2.

6

Read three times and passed the House of Assembly this day of , 2019.

Speaker

Read three times and passed the Senate this day of , 2019.

President

7

PARLIAMENT

FIRST SESSION OF 2018-2023

BILL

cited as the Land Tax (Amendment) Act, 2019

Government Printing Department