(1) The owner of a commercial property may be granted a partial waiver of tax payable on the commercial property, where the owner—
(a) has for the period of April 2020 to June 2020 or July 2020 to September 2020 allowed tenants of the commercial property, with respect to the rent payable—
(i) a waiver of not less than 20%, or
(ii) a moratorium, for a minimum period of 3 months; and
(b) is compliant with the tax laws of Saint Lucia at the date of making an application under Section 7B.
(2) A partial waiver granted to the owner of a commercial property, under subsection (1)—
(a) applies to the tax payable for the calendar year—
(i) 2019, if unpaid, or
(ii) 2020, if the tax payable for the calendar year 2019 is paid;
(b) is in the amount of 50% of the tax payable.
(Inserted by Act 7 of 2021)