In what is being described as a Government of the Turks and Caicos Islands ‘Gift Card’, the Progressive National Party (PNP) administration is offering a $50,000 waiver on stamp and import duties.
The announcement was made by Deputy Premier and Minister of Finance, Investment and Trade Hon. E. Jay Saunders.
The government announced that the waivers have been instituted under the Turks and Caicos Islanders First Time Property Owner Policy.
The stamp duty, according to the finance minister, is restricted to land purchases of $150,000 or less, while the import duties are restricted to land/ building material purchases of $500,000 or less.
The finance minister is urging Turks and Caicos Islanders to take up the offer, which runs until April this year.
These waivers are the most generous to date. The last waiver, which happened in 2019, was $20,000 on stamp duty as well as import duties.