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Grenada To Tax Idle Agricultural Land

by Mike Godfrey, Tax-News.com, Washington

03 April 2014

The government of Grenada plans to introduce a 0.2 percent tax on idle agricultural land in an effort to boost production in the farming sector.

Agriculture Minister Roland Bhola stressed that landowners, and the country as a whole, would benefit from the effects of an Idle Land Tax. "I want to make it absolutely clear that the measure was never meant to be a revenue enhancement measure from taxation," he said. "In effect, what we were saying is that, you would be at a disadvantage if you are the owner of good agriculture land and you did not put it into full production."

The Inland Revenue Department (IRD) announced on April 1, 2014, that it mistakenly sent 15,000 notices to landowners demanding payment of the tax. Bhola said that notices about the tax should have gone out, but not demand notices.

The government will begin collecting the Idle Land Tax next year, Bhola said.

TAGS: tax | business | law | Grenada | food | Tax

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