P1/Strat. No.3: Waiver of Commercial Property Tax for Landlords Who Extend Moratorium or Rent Reductions to Their Tenants.

P1/St.No.3

Wave

Objective

Intervention

Target Audience

Guidelines and Criteria 

Implementing Agency

Estimated Cost

Overall Beneficiary

Improve conditions related to business function

Allow participating commercial landlords a 50% waiver of property tax for their upcoming payment (2019 or 2020)

Tenants affected by the slowdown in business activity

Landlords must be duly registered with the IRD

Landlords must show proof of either extending a minimum of a 3 months moratorium of rent payments either April-June or July-September 2020 OR

Landlords must show proof of reducing rental charges for the period April-June or July-September 2020         

Inland Revenue Department (IRD)

$2.5 Million

Business Community

Status Update

On-Going

Source: Inland Revenue Department (IRD)