NASSAU, Bahamas (May 30, 2012) Prime Minister of the Bahamas, Perry G. Christie signed the Stamp (Amendment) Bill, 2012 to amend the stamp tax on Real Estate transactions over $250,000 to 10%.
The result of the new Stamp (Amendment) Act 2012 is that all real estate transactions over $100,000 will be now be stamped at 10%.
Unfortunately, the new Amendment has no bearing on the tax payable on properties valued at under $100,000. The tax level remains the same for such properties.
If you require specific advice regarding stamp duties or otherwise, you should consult a Bahamian Real Estate Attorney. You may contact a Bahamian Real Estate Attorney by clicking here.
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