Stamp (Surcharge Amnesty) Bill, 2016
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STAMP (SURCHARGE AMNESTY) BILL, 2016
Annex E
Stamp (Surcharge Amnesty) Bill, 2016
A BILL FOR AN ACT TO PROVIDE FOR AN AMNESTY PERIOD FOR
THE PAYMENT OF SURCHARGE
Enacted by the Parliament of The Bahamas
1.
2.
Short title and duration.
(1)
This Act may be cited as the Stamp (Surcharge Amnesty) Act, 2016.
(2)
This Act shall come into force on the 25 th day of May, 2016 and shall
expire on the 1st day of September, 2016
Amnesty on surcharge.
(1)
On the date of the coming into force of this Act, a person liable to pay
stamp duty in respect of any unstamped or insufficiently stamped
instrument, may upon presenting the instrument to the Treasurer to be
duly stamped six months or more after its execution be entitled to a
waiver of the surcharge during the period 25th day of May, 2016 to 1st day
of September, 2016.
(2)
Upon the expiration of the period referred to in subsection (1), section
17(1) of the Stamp Act shall apply.
OBJECTS AND REASONS
This Bill seeks to waive the payment of surcharge during the period 25 th day of
May, 2016 to 1st day of September, 2016, for persons liable to pay stamp duty in
respect of unstamped or insufficiently stamped instruments and upon the expiration of
section 2(1), section 17(1) of the Stamp Act shall apply.
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DRAFT
ESTIMATES
OF REVENUE &
EXPENDITURE