2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

67.   Approval of an application for a tax relief

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    (1)   After Cabinet considers an application submitted under section 66, Cabinet may approve an application for tax relief.

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    (2)   An approval under subsection (1) must specify —

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      (a)     the tax relief that is granted;

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      (b)     the applicable time period for each tax relief that is granted, including, the commencement date and termination date;

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      (c)     the approved partnership business;

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      (d)     the approved community tourism project to which the tax relief is granted;

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      (e)     the approved community tourism product or approved community tourism service;

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      (f)     the conditions under which the tax relief is granted.

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    (3)   In the case of a tax relief granted to an approved development under the Tourism Stimulus and Investment Act, or a person under the Tourism Incentives Act, that has entered into a partnership agreement under section 60, Cabinet shall —

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      (a)     approve the revocation of an Order under the Tourism Incentives Act, or the Tourism Stimulus and Investment Act; and

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      (b)     grant a tax relief to the business.

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    (4)   A tax relief granted under this section takes effect from the date specified in an Order made under section 68.