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Home > Industry News > Stamp and customs duty cut to stimulate economy

Stamp and customs duty cut to stimulate economy

In an effort to boost development and the real estate industry in the Cayman Islands the Legislative Assembly has passed legislation to amend the Customs Tariff and the Stamp Duty Bill.

Construction materials will now receive a five percent reduction on customs duty until January 2010 while the stamp duty on properties in the Seven Miles Beach area have been reduced by as much as two and a half percent and elsewhere by one percent. Both stamp duty reductions are effective until October 2009.


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