S.L. 123.203 · Relief From Income Tax And From Duty On (S.L. 123.203)
S.L. 123.203 чл. 11Forfeiture of the relief from duty and payment back of the refund.
(1) The relief from duty on documents and transfers on a transfer to which rule 8 applies shall be subject to the condition that, unless otherwise expressly allowed by the competent authority, the developed property is not, at any date after the approval of the development, but not after the date when the property is transferred again or inter vivos causa mortis:
(a) demolished; or
(b) subjected to structural alterations or additions that result in material changes to the architectural design approved by the competent authority; or
(c) divided into more transferable units than the number of transferable units that comprised the property at the time that the approval of the competent authority was granted.
(2) If the condition mentioned in sub-rule (1) is in any way breached, or if there is a breach of any condition imposed by the competent authority for the approval of the development, the relief from duty on documents and transfers on the said transfer shall be forfeited and the amount that was refunded in accordance with rule 8
shall be paid back to the Commissioner forthwith.
(3) The person who is the owner of the property at the time that the approval of the development is granted shall be liable for the payment of the amount mentioned in sub-rule (2).
История на изменения
- Amended by L.N. 11 of 2022