It is unlikely the government will allow for retrospective adjustments as part of its aggressive new real property tax exercise, Deputy Prime Minister and Minister of Finance Peter Turnquest said yesterday, however a definitive decision has not been made.

A retrospective adjustment involves altering past financial information according to a new accounting principle, as if that principle had always been applied.

Concerns from the public have mounted as property owners throughout the country brace for the tax crackdown.

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