Areas of Practice
9th Jul 2015
In an effort to attract new investments and promote development in the constructions sector, the Parliament approved an amendment to the Department of Land and Surveys (Fees and Charges) Law that provides for a 50% reduction of the transfer fees payable on the sale of immovable property and the registration of leases or subleases that shall take place until the end of December 2016. Please note, however, that the 50% reduction shall not apply in the case of a property resale due to liquidation.
The amending legislation also provides for:
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