1. Duty and taxes on acquisition of land for PDS project
Land Transfer Tax for Property (payable by the seller of the land on the value of the property)
- Rate : 5% of the value of the property
- Registration duty (payable by the company intending to do the PDS project on the value of the property)
- Rate: 5% of the value of the property
2. Duty and taxes on acquisition of residential property by purchaser from a PDS Company (payable by the PDS Company at the time of registration)
- Rate: 5% of the value of the property
- Registration Duty (payable by the purchaser at the time of registration)
- Rate : 5% of the value of the property
Note: A developer of an PDS project can pay the land transfer tax on the transfer of a residential property under Vente en l’Etat Futur d’Achèvement (VEFA) in 4 equal 6-monthly instalments provided that they submit, at the time of registration of the deed of transfer, a bank guarantee equivalent to the remaining balance of the land transfer tax leviable.
3. Duty and taxes on acquisition of residential property by purchaser from a person holder of a residential property , i.e resale of residential property
Land Transfer Tax (payable by the seller of residential property)
Rate : 5% of the value of the property
Registration Duty (payable by the purchaser)
Rate : 5% of the value of the property
