Beautiful Virgin Islands

Monday, Sep 01, 2025

Gov’t offering 100% reduction on property tax interests

Gov’t offering 100% reduction on property tax interests

As the Andrew A. Fahie-led Virgin Islands Party (VIP) Government continues to look at ways to assist the people during this coronavirus pandemic, it is now extending to property owners a 100% reduction on property tax interests accrued for the 2020 tax year and prior years.

The period of relief of interests extends from February 3 to August 31, 2021.

Property owners are urged to pay the outstanding principal (tax) forthwith, or agree to a payment plan with the Commissioner of Inland Revenue, Mrs Karen B. Smith-Aaron, to liquidate the outstanding principal within the relief period.

The period of relief of Property Tax interests accrued for the 2020 tax year and prior years extends from February 3 to August 31, 2021.


Property owners urged to take full advantage of amnesty


According to a press release from Government on Friday, February 19, 2021, it is the Government’s intention to implement an amnesty on the interest for Property Tax with the hope that property owners will take full advantage of this opportunity to have their property taxes paid and in compliance with The Property Tax Act (Cap 207).

It said Mrs Smith-Aaron is urging property owners to liquidate all outstanding Property Taxes.

Property tax is due and payable on September 1 and extends to November 30 annually without accruing interest.

Property owners are also reminded that Land Instruments will not be processed at the Inland Revenue Department unless the Property Tax relating to the parcel is paid to date.

The Inland Revenue Department said it is committed to assessing the taxes, licenses and fees due to the Government of the Virgin Islands; and applying the tax laws with fairness and integrity in an atmosphere of mutual respect, thus achieving compliance to maintain the economic and social well-being of the Virgin Islands.

Recently, Premier and Minister of Finance, Hon Andrew A. Fahie  announced that the Government of the Virgin Islands is extending the stamp duty waiver for the purchase of property by Belongers.


Stamp duty waiver


Recently, the Government of the Virgin Islands extended the stamp duty waiver for the purchase of property by Belongers.

The stamp duty waiver for property purchase was first announced in May 2020, by Premier and Minister of Finance Andrew A. Fahie (R1), who had said government recognised the need to ease some of the financial burdens of residents who would be in a position to purchase property during this COVID-19 era in a manner that encourages the properties to remain in local hands.

The amendment to the schedule of the Stamp Duty Act was agreed on to allow for the waiver of stamp duty fees payable on the sale or transfer of property by a Belonger or non-Belonger to a Belonger, no matter the amount.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×