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New Income Tax Regime for the Transfer of Land and/or Buildings

The Government has issued Government Regulation No. 34 of 2016 on Income Tax for Income Generated from the Transfer of and Conditional Sales and Purchase Agreements for Land and/or Buildings and its Amendments (“2016 Regulation”).The 2016 Regulation sets out a new method for the imposition, calculation and settlement of income tax by parties who satisfy the following criteria:

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