By Orville Williams
The Government’s intention to make certain amendments to CAP. 294 The Non-Citizens Undeveloped Land Tax Act of 1980, is geared more toward bringing clarity to the stipulations in the Act than anything else.
“I think the intention is to bring greater clarity to the whole process of whether or not companies are interested in speculating with the lands,” Information Minister, Melford Nicholas, explained during the Post-Cabinet press briefing last week.
“Whether or not we can bring an end to that insidious process, whether or not – within the context of this alien citizens land owning act – there was an opportunity for this type of mischief,” Nicholas said.
The Act was initially adopted to dissuade speculation in land by non-citizens who purchase land, fail to make any investment in the real property purchased and wait for the value to increase – in order to sell at a profit.
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