S.L. 123.92 Art. 4Acquisition value of property acquired causa mortis or by donation. Cap. 364. Cap. 364. Cap. 364.

(1) The acquisition value of property acquired causa mortis before the 25th November, 2003 shall be the value declared in the relative deed of the transfer as adjusted by any causa mortis, deed of adjustment, if notice of the said deed of transfer causa mortis and, where applicable, of the said deed of adjustment, have been given to the Commissioner, for the purpose of and in accordance with the provisions of the Duty on Documents and

Transfers Act, not later than the 30th June, 2005.

(2) The acquisition value of property acquired causa mortis on or after the 25th November, 2003 shall be the value declared for the purpose of and in accordance with the provisions of the Duty on

Documents and Transfers Act if the deed of the transfer causa mortis was made within six months from the relative succession or donation and if notice thereof was given to the Commissioner in accordance with that Act by not later than either fifteen working days after the date of the publication of the deed or the expiration of the said period of six months, whichever is the later.

(3) In cases not covered by the foregoing provisions of this rule, the acquisition value of property acquired causa mortis or by donation shall be its market value at the time of the acquisition.

(4) Notwithstanding the foregoing provisions of this rule, where the value of property acquired causa mortis or by donation was the subject of an assessment made under the Duty on

Documents and Transfers Act and, before the date of the transfer in question, that assessment has -

(a) become final and conclusive, or

(b) has been confirmed or amended by a final decision of an appellate tribunal or court, or

(c) has been withdrawn following an agreement in writing with the Commissioner, the acquisition value of that property shall be the value determined in the said final and conclusive assessment, decision or agreement.