Revised Laws of Saint Lucia (2021)

Schedule 1

(Section 3 (1) and 8 (2))

TAX RELIEFS AND EXEMPTIONS FOR CRICKET WORLD CUP ACCOMMODATION PRODUCT

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   1.   A percentage relief on stamp duty, vendor's tax, property tax and aliens landholding licence fees based on the total number of rooms in the world cup cricket accommodation product as follows:

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      (a)     50 rooms and under— 50%

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      (b)     over 50 rooms— 100%.

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   The exemption from property tax shall be for the duration of the period of any income tax holiday granted, or for a maximum of 15 years, whichever is the greater.

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   2.   An income tax holiday for a period based on the number of rooms in the world cup cricket accommodation product as follows:

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      (a)     50 rooms and under— 15 years

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      (b)     over 50 rooms— 20 years.

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   3.   A percentage tax credit for financial institutions based on the quantum of the investment as follows:

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      (a)     EC$1 million and under— 1%

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      (b)     over EC$1 million and up to EC$5 million— 2%

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      (c)     over EC$5 million and up to EC$10 million— 3%

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      (d)     over EC$10 million— 4%.

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   The tax credit shall be available to a financial institution only in respect of the tax year in which the investment was made.

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   4.   Customs duty exemptions on imports to be determined by Cabinet and for a period to be determined by Cabinet.