Amendment status not verified — confirm the current text below against the official source.
Supplementary taxation.—Whenever the Council decides to have recourse to supplementary taxation under sub-section (2) of section 57 in any year, it shall do so by increasing from such date as the Council may determine, the rates at which any tax leviable under this Act is being levied, but every such Description of instrument Amount on which duty should be levied (ii) Exchange of immovable property. The value of the property of the greater value, as set forth in the instrument. (iii) Gift of immovable property. The value of the property as set forth in the instrument. (iv) Mortgage with possession of immovable property. The amount secured by the mortgage as set forth in the instrument. (v) Lease in perpetuity of immovable property. The amount equal to one sixth of the whole amount or value of the rent which would be paid or delivered in respect of the first fifty years of the lease as set forth in the instrument. 43 increase shall be made subject to the maximum rate and any other limitation specified in respect of such tax. Payment and recovery of taxes