Cyprus extends deadline for payment of central body fee for real estate transfers
In an announcement, the Cyprus tax authority, based on a new decision of the Tax Commissioner, the deadline for payment of the Fee of the Central Body of Equitable Burden Distribution without the imposition of monetary charges and interest has been
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Poland announces draft changes to real estate tax laws
On 11 June, 2024, Poland announced a draft legislation to amend the current real estate tax regime. The Ministry of Finance will develop the bill, and the Council of Ministers is expected to adopt it by Q3 2024. The key amendments include:
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Norway proposes new method for calculating ground rent tax
Norway has updated its National Budget for 2024, which proposed that ground rent tax for land-based wind power plants owned by entities with participant determination, such as responsible companies and limited partnerships, be calculated using a
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Western Australia: Parliament passes build-to-rent land tax exemption
The Western Australian Parliament has enacted the Land Tax Assessment Amendment (Build-to-Rent) Bill 2023. This legislation grants a 50% land tax exemption for 20 years to qualifying build-to-rent (BTR) developments, housing projects specifically
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Poland: Railway freight terminals exempt from real estate tax, imposes VAT to renewable energy installations
The Minister of Finance of Poland, Andrzej Domanski, provided clarifications regarding the application of the real estate tax exemption for railway freight terminals on 8 May, 2024. Although the regulations exempting freight terminals from real
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Saudi Arabia: ZATCA introduces changes to real estate transaction tax regulations
The Zakat, Tax, and Customs Authority (ZATCA), on 3 May, 2024, unveiled significant amendments to the real estate transaction tax (RETT) regulations, marking a pivotal shift in property transaction dynamics. The Key changes include: Expanded
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OECD: Enhancing International Tax Transparency on Real Estate
On 17 July 2023 the OECD published a report with the title Enhancing International Tax Transparency on Real Estate for the meeting of G20 finance ministers and central bank governors. Tax authorities do not possess sufficient information on
See MoreLuxembourg: Finance Minister presents draft budget law for 2021
On 14 October 2020, Luxembourg’s Finance Minister has presented the draft budget law 2020 to the Parliament. There are no measures regarding major tax reform or an increase in the tax rate in the draft budget law. The draft budget laws contain a
See MoreUK: Consultation on stamp duty land tax surcharge for nonresidents
The UK government issued a consultation document on 11 February 2019 in relation to a Stamp Duty Land Tax (SDLT) surcharge on non-UK residents who purchase residential properties in England and Northern Ireland. This surcharge would apply where
See MoreAngola: Tax Administration extends deadline for payment of first installment of urban property tax
The deadline for payment of Real Estate Property Tax (IPU) has been extended from January 2017 to February 28 2017. The Angolan Tax Administration issued, on 31 January 2017, a press statement announcing the extension of the deadline for the payment
See MoreCzech Republic: Changes to real estate acquisition tax has approved
The lower chamber of the parliament has approved a bill in the third reading on 1st June 2016 regarding the changes to the Senate Legislative Measure on Real Estate Acquisition Tax. Particularly the Bill gives that the taxpayer of the real estate
See MoreGhana: VAT obligation for mortgage providers and operators
The government of Ghana has issued a statement regarding new VAT obligations for mortgage providers and operators in the real estate and construction sector. Under the statement, the sale of each unit of immovable property by an estate developer is
See MoreRussia-Calculate corporate property tax by using cadastral value
Russia has enacted Law No.307-FZ naming “Concerning the Use of the Cadastral Value of Real Estate for the Calculation of the Corporate Property Tax Base” that was published on November 6, 2013 and it will apply from January 1, 2014. A
See MoreItaly: suspension of the first payment of the municipal real estate tax
Law Decree No. 54/2013, regulating the suspension of the first payment of the municipal real estate tax, was published in Official Gazette No. 117 on 21 May 2013. According to articles 1 and 2 of the Law Decree, the first municipal real estate tax
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