John Peter is aware that there is no Capital Gains tax in Barbados. He decided to buy a large piece of land. The land wa

[answerhappygod]

John Peter is aware that there is no Capital Gains tax in
Barbados. He decided to buy a large piece of land. The land was
hilly, so he blasted it to make it flatter, installed a soak away
so the water does not settle on the land, and made several roadways
for ease of access. Six months after he purchased the land, he
subdivided the area and sold it in lots to 30 separate persons,
thereby making a large gain.
Required
Advise Mr. Peter how these gains would be treated for tax
purposes in Barbados. Appropriate case laws should be included in
your answer