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Minister of Finance Denies Imposition of New Taxes on Real Estate Sales

25 Feb 2021

Minister of Finance Denies Imposition of New Taxes on Real Estate Sales

The Minister of Finance has denied reports about imposing a new tax on the sale of real estate, stating that the tax imposed on the sale of real estate was reduced from 5% to 2.5% in 1996 to lift the burden on citizens. All properties located in villages or its affiliated areas, real estate assets that were inherited before 25 July 2018, assets presented as in-kind shares in joint-stock companies, and properties given as authenticated gifts will not be subject to the levy. (Source: Enterprise)

 

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