One rule for GEMS and other for the rest of us?
A fellow hotelier recently mailed the following to me…
Statutory Instruments Supplement No. 28
Supplement to Official Gazette No. 54 dated 6th July 2006.
Duties, taxes and other payments (Exemption) (Hotels and Resorts Ltd) Order, 2006.
The Minister in exercise of the powers conferred on him by section 3 of the Duties, Taxes and Other Payments (Exemption) Act, makes the following Order:
1. This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (Hotels & Resorts Ltd.) Order, 2006.
2. Hotels & Resorts Ltd, a company incorporated under the Companies Act, is exempt from the payment of property transfer tax under the Property Transfer Tax Act in respect of Silver Rock Hotel to Silver Point Villas Inc. pursuant to an agreement between Hotels and Resorts Ltd and Silver Point Villa Hotel Inc.
Made by the Minister this 27th of June, 2006.
Minister responsible for Finance.
6 July 2007