Home Buyers Lose $81K Over Stamp Duty 'Loophole'

Some 32 first-time Bahamian home buyers have collectively lost almost $81,000.00 because there is nothing in statue law to allow the refund of Stamp Duty mistakenly paid on their real estate purchases. the House of Assembly's Public Accounts Committee, in this interim report tabled January 25, 2012, urged that this legislative deficiency be remedied as "soon as possible" and prior to the upcoming 2012 general election, describing the absence of a refund provision as "unfair"!!