Stamp (First Home Exemption) Bill, 2016
Stamp (First Home Exemption) Bill, 2016
Annex E
c
STAMP (FIRST HOME EXEMPTION) BILL, 2016
A BILL FOR AN ACT TO PROVIDE FOR UNSTAMPED
INSTRUMENTS TO BE GRANTED THE EXEMPTION IN RESPECT
OF WHICH APPROVAL WAS OBTAINED UNDER THE STAMP
(AMENDMENT) ACT, 2002 AND THE STAMP (AMENDMENT) ACT,
2008
Enacted by the Parliament of The Bahamas
1.
[432]
2016/2017
DRAFT
ESTIMATES
OF REVENUE &
EXPENDITURE
2.
Short title and commencement.
(1)
This Act may be cited as the Stamp (First Home Exemption) Bill, 2016.
(2)
This Act shall come into force on the 1st day of July, 2016.
Exemption of stamp duty.
(1)
An application for the exemption of stamp duty on any instrument made
pursuant to the provisions of the Stamp (Amendment) Act, 2002 and the
Stamp (Amendment) Act, 2008 —
(a) in respect of which approval was granted; and
(b) which at the date of the coming into force of this Act is unstamped,
shall be duly stamped by the Treasurer on the payment of the surcharge
calculated in accordance with section 17 of the Stamp Act.
(2)
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An application made pursuant to subsection (1) must be supported by
documentary evidence to show that such approval was given.