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Thursday, February 9, 2023

Fee 0.40% of all property sales for refugee support

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Fee 0.40% of all property sales for refugee support

The Parliament took a step for the financial support of refugees who own real estate in the occupied areas yesterday, unanimously approving a bill by MPs Kostis Efstathiou of EDEK and Kyriakos Hatzigiannis of DISY to cut 0.40% from any purchase of real estate Βαρών.

This measure, as the rapporteurs argued, could prevent landowners from going to the so-called compensation committee and selling their property for a lentil plate.

SEE ALSO: Refugees: Adoption of a 0.4% contribution law on property transfer

If the approved bill is signed by the President of the Republic, the owners of real estate in the occupied areas will be financially supported through the sale of real estate in the free areas. Specifically, for each sale of real estate, the seller will pay a contribution of 0.40% on the value of any transaction and the amount will end up with the Equal Burden Distributor, who, with regulations, will determine the criteria for the financial support of the beneficiaries.

For example, from a sale of real estate of € 1 million, in the free areas, will end up in the Agency € 4 thousand. The fee of 0.40% will be collected in case of transfer of shares of any company, which owns real estate and the transfer will result in the acquisition of control of the company or the possession or exploitation of real estate by the buyer of the shares.

READ MORE IN THE PUBLISHED LIBERTY PRINT

Source: www.philenews.com

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