The Finance Ministry says the time period for the Board of Inland Revenue to issue a Notice of Assessment has been further extended, from July 31st 2024 to August 16th 2024.

It says this has become necessary to permit the Board to dispatch all remaining Revised Notices of Assessment for Property Tax to residential land owners and occupiers.

Further, it says pursuant to Legal Notice No. 48 of 2024, residential land owners and occupiers, who meet the requirements under the Property Tax Act, may make an application to the Board of Inland Revenue for deferral of Property Tax.

The Ministry also reminds that the rate of Property Tax was decreased from 3% to 2%.