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Stamp Duties (Budget Amendment) Act 2015

REPUBLIC OF FIJI

Stamp Duties (Budget Amendment) Act 2015.


ACT NO. 19 OF 2015


I assent.
J. K. KONROTE
President


[23 November 2015]


AN ACT
TO AMEND THE STAMP DUTIES ACT (CAP. 205)


ENACTED by the Parliament of the Republic of Fiji—


Short title and commencement

1.—(1) This Act may be cited as the Stamp Duties (Budget Amendment) Act 2015.

(2) This Act shall come into force on 1 January 2016.

(3) In this Act, the Stamp Duties Act (Cap. 205) shall be referred to as the "Principal Act".

Section 4A amended

2. Section 4A of the Principal Act is deleted and substituted with the following—

"Waiver or refund of stamp duty
4A.—(1) Without prejudice to section 3, the Chief Executive Officer may, subject to such conditions as he or she considers necessary, waive or refund the whole or any part of any stamp duty payable in respect of any instrument provided that the waiver or refund does not exceed $10,000.
(2) Notwithstanding subsection (1), if the waiver or refund exceeds $10,000, the Minister may, subject to such conditions as he or she considers necessary, waive or refund the whole or any part of any stamp duty payable in respect of that instrument."

New part inserted

3. The Act is amended by inserting the following new part after Part 2—

"PART 2A—ANTI-AVOIDANCE
Avoidance of Stamp Duty
27A. If there are reasonable grounds for the Chief Executive Officer to believe that any dealings have the direct or indirect effect of—
the Chief Executive Officer may, without prejudice to such validity as it may have in any other respect or for any other purpose, disregard or vary the dealings and make such assessments as the Chief Executive Officer considers just and proper in the circumstances."

Schedule amended

4. The Schedule to the Principal Act is amended in—

(a) Part 1 by—
Nature of Instrument
Amount of Duty
Persons Primarily Liable
"DEED OF ASSIGNMENT OF TRADE-MARKS
3% of the value of the trade-mark
The person executing the deed
FINANCE LEASE OR LOAN AGREEMENT, excluding a personal loan not exceeding $10,000
1.75% of the lease or loan
The lessee or borrower
NEW REGISTRATION OF VEHICLES, according to the engine capacity of the vehicles—


(i) 0cc – 999cc;
(ii) 1000cc – 1599cc;
(iii) 1600cc – 1999cc;
(iv) 2000cc – 2599cc;
(v) 2600cc – 2999cc;
(vi) 3000 – 3599cc;
(vii) 3600cc – more than 3600cc
$25
$50
$100
$200
$300
$400
$500
New owner of the vehicle"

(b) Part 2 by inserting the following new paragraph after paragraph 28
(c) Part 3 by—

Passed by the Parliament of the Republic of Fiji this 20th day of November 2015.


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