Minister of Finance Winston Dookeran on Wednesday said Government is committed to "repealing the Property Tax Act, 2009" which was introduced by the PNM administration in December 2009.
In a media release, the minister noted that no property tax had been collected since then, because "as indicated in the last Budget read on September 8th 2010 a waiver of lands and buildings tax has been instituted".
He assured that "systems are being put in place to facilitate assessment of buildings for the purposes of granting new mortgages".
Minister of Housing and the Enviornment Dr. Roodal Moonilal was reported in the Express newspaper on Wendesday as saying that the legislation for the tax is expected to be in place by September to "put that (problem) right".
Minister Moonilal also said in the Express report that no decision had been taken on whether the legislation would be retroactive to January 2010, when the collection was put on hold.
In a media release, the minister noted that no property tax had been collected since then, because "as indicated in the last Budget read on September 8th 2010 a waiver of lands and buildings tax has been instituted".
He assured that "systems are being put in place to facilitate assessment of buildings for the purposes of granting new mortgages".
Minister of Housing and the Enviornment Dr. Roodal Moonilal was reported in the Express newspaper on Wendesday as saying that the legislation for the tax is expected to be in place by September to "put that (problem) right".
Minister Moonilal also said in the Express report that no decision had been taken on whether the legislation would be retroactive to January 2010, when the collection was put on hold.
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