Amendment presented by government to remove tax from new flat buyers

Government has presented an amendment to the Land Law so that people buying a flat for the first time does not have to pay tax.

The current Land Law in effect in the Maldives says that 15 percent of the price of a flat or building being sold has to be paid to the government as tax.

Bill by the MP for the Funadhoo constituency, Ali Saleem says that if a flat is being sold to a first time buyers, the seller of the flat does not have to pay the tax. The amendment says that the buyer must be at least 18 years of age.

The amendment forgives the tax even if the buyer has a land registered in his name.

MP Saleem said that the purpose of the bill is to bring an amendment to ease the people from paying the relevant tax to the government.