I write with reference to the article reporting the press conference addressed by Jason Azzopardi launching the changes to the government Property Redemption Scheme (February 27).
The article may have given the impression that the payment to the government of 10-25 per cent would come into effect once any kind of resale is done within five or 10 years and so on.
This office would like to clarify that the scale of percentages comes into effect as follows: If the premises are sold after redemption within the first five years, the payment takes place. If the premises are sold after five years no percentage has to be paid to the government unless the sale is done for redevelopment purposes. In this case, the scale of percentages according to the lapse of time from redemption of ground rent comes into effect.