(redirected from Property Transfer Tax)
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References in periodicals archive ?
Property and business taxes more than offset softness in budgeted hotel and real property transfer taxes.
* Property transfer tax on homes valued at $3 million or more will increase from 3% to 5% for the portion over $3 million.
BMR has also already paid the property transfer tax amounting to 10% of the aggregate consideration.
"The Algerian Government supports foreign investment and offers incentives in the form of tax advantages, such as reduced custom duty rates on imports, value-added tax exemptions on goods and services and exemption from property transfer tax," said Al Sorayai.
The real estate holding company concept was created in 1997 in order to close a perceived loophole in the real property transfer tax. At that time, a person could contribute real property to a corporation in exchange for stock--a transaction that did not generate any real estate transfer tax.
Allow for around seven per cent property transfer tax and around one to two per cent in legal fees.
A new Spanish property will attract VAT at 7pc and a resale one 6pc in property transfer tax.
If a UK citizen with property in Portugal dies, his estate can be subject to property transfer tax when it passes to the beneficiaries, and Portuguese gift and inheritance tax, as well as the possibility of inheritance tax in this country.
As B.C.s real estate market continues to moderate, the Province forecasts that property transfer tax revenues will decline by an additional $150 million.
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