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Parliament passes legislation to levy 0.4% fee on property sales in favor of refugees

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Η Βουλor ψorφισε ν&omicron ;μοθεσλα για ελσπραξη τελους 0.4% σ&tau ;ις πωλorσεις ακινorτων υπΕρ των πρ&omicron ;σφyγων

Parliament passed legislation to levy a 0.4% fee on property sales in favor of refugees

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The Plenary of the Parliament unanimously passed a law by which the Tax Commissioner assumes the responsibility of collecting a fee of 0.40% on the sale price of real estate, to support the project of the Central Agency for Equal Burden Distribution.

The law which defines the obligation to collect this fee, it was passed by Parliament in February 2021, however it had not been activated since neither the relevant law nor the Government defined the procedure by which this fee would be collected for the benefit of the refugee world.

With the law passed during today's session of the Plenary, the Law on the Central Agency for Equal Distribution of Burdens is amended, so that a fee of 0.40% is collected on the sale price of real estate for the transfer of real estate , but also in cases of transfer of shares of any company that owns immovable property.

Specifically the Tax Commissioner assumes the responsibility of collecting the fee s 0.40% and issues a relevant payment certificate upon the transfer of immovable property or the transfer of shares of a company that directly or indirectly participates in a company that owns immovable property.

Source: cyprustimes.com

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