Property Transfer Tax Act (Cap. 340).
Type of law
Date of original text
This Act imposes a tax upon the transfer of property, i.e. (a) any land in the Republic; (b) any share issued by a company incorporated in the Republic. Where the property to be valued is land, the realised value shall be the price at which it could, at the time of its transfer, reasonably have been sold on the open market as determined by the Commissioner-General. Any co-operative society registered under the Co-operative Societies Act shall be exempt from the provisions of this Act. The Act also concerns taxation of the transfer of mortgaged property.
Long title of text
An Act to provide for the charging and collection of a tax based on the value realised from the transfer of certain property in the Republic; and to provide for matters connected with or incidental to the foregoing.
Date of consolidation/reprint
Consolidated version of Act No. 12 of 1984 as amended last by Act No. 3 of 2005.