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)