Duty on Documents and Transfers Act (Cap. 364), article 9

9. (1) Where in a document charged with ad valorem duty the real value is not ascertainable f rom the document itself or fro m any other document annexed to it, or referred to in it, the parties shall make a declaration of such value according to their estimation and the duty shall be charged and paid on the real val ue so declare d. (2) In a document of transfer of rural property, or land, or the roof or airspace overlying urba n property, the parties shall ma ke a declaration stating wh ether any construction exists on the prop erty on the date of the transfer and, where such construction exists , a description thereof, and for this purpose ''construction'' incl udes any improvements and a ny works in progress. (3) A person who fails to make the declaration required under sub-article (2) or who makes a declaration for the purpose of t hat sub-article which he knows to be false or incomplete or mislead ing shall be guilty of an offence and shall, on conviction, be liab le to a fine ( multa ) of not less than five hundred euro (€500) and not more than three thousand euro (€3,000), or to imprisonment for a per iod not exceeding six (6) months or to both such fine and imprisonm ent in addition to any additional duty and liability to which he ma y be liable in terms of any ot her provision of this Act. Commissioner to determine and assess the duty chargeable. Amended by: VIII.2020.40. 10.* (1) Saving the provisions of article 52, where in the opinion of the Commissioner the value expressed or declared in a document is lower than the real value according to the other provisions of this Act and the rules prescribed under this Act, he shall proceed to determine by order in writing the amount of the duty 6 CAP. 364.] DUTY ON DOCUMENTS AND TRANSFERS chargeable and shall raise an assessment accordingly. (2) Where the value assessed by the Commissioner as aforesaid exceeds the value expressed or d eclared in the document by more than fifteen per centum of the value assessed by the Commissioner, the person liable to pay duty shall, in addition to the duty chargeable in accordance with sub-article (1), pay an additiona l duty equivalent to twenty per centum (20%) of the amount of duty assessed by the Commissioner as aforesaid, and interest at a rate as pre scribed by the Minister on any duty assessed by the Commissioner. Liability of notaries as to declaration of value. Amended by: L.N. 425 of 2007; XV . 2016.65.