What is the Tax Incentive Programme About | Urban Development Corporation

What is the Tax Incentive Programme About | Urban Development Corporation: "The Tax Incentive Programme (TIP)

The Urban Renewal (Tax Relief) Act, was tabled in Parliament in March 1995. It provides a framework for granting incentives to those who invest in the development, rehabilitation or refurbishing of land or buildings in areas declared as Special Development Areas (SDAs).

What is the TIP?

The TIP is a bold initiative by Government to encourage and facilitate development in urban areas defined as "blighted" or in need of revitalization. Through the TIP, Government gives tax relief as an incentive to individuals or companies undertaking capital investments in either land or buildings, whether residential or commercial, in the SDAs.
The Programme is consistent with Government's policy to provide opportunities to enable the private sector to become full participants in the country's development thrust. It focuses on attracting private investment capital to fuel urban renewal and growth.
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