Saturday 5 December, 2020

VIDEO: Property Tax decoded

During the National Budget presentation for 2016/2017, Minister Colm Imbert announced the return of the property tax.

The tax will be imposed under the existing Property Tax Act 2009 with a flat rate of three percent. 

 

The news caused a stir among citizens, who were not too pleased with the impending taxation, with many not too clear on what the property tax meant for them, how exactly they will be taxed or even what the taxes will toward.

 

Allyson West, Territory Tax Leader at PricewaterhouseCoopers (PwC) gives a breakdown on property tax, including the intent behind the taxation and uses as well as how different types of property are taxed. 

Related: Property Tax to return in 2017

Get the latest local and international news straight to your mobile phone for free: