Ad valorem duties

Where an instrument is chargeable with an ad valorem duty on money or money’s worth which is expressed in any manner other than in the currency of Belize, the duty shall be calculated as follows– (a) a duty on money in any currency not being local currency shall be calculated on its value in local currency, at the date of the instrument, according to the current rate of exchange; (b) a duty on stock or on a marketable security shall be calculated on its value, at the date of the instrument, according to the average price thereof; (c) a duty on a debt or on a security, not being a marketable security, shall be calculated on the amount due, at the date of the instrument, for principal and interest; and (d) an instrument which contains a statement of the value of any money or stock, or other property or right, or as to the amount due on a debt or security, and is stamped in accordance with that statement shall, so far as regards the subject matter of the statement, be deemed duly stamped unless it is shown that the statement is untrue, and that the instrument is in fact insufficiently stamped.