Recent Tax Reform In The Immovable Property Tax Law

The House of Representatives has recently voted for the following amendments in the Immovable Property Tax Law:

• The deadline for payment is extended from 30^th September to 31^st December
• If payment is done until 1^st December, then the following discounts will be granted:
  • 20% discount for settling the tax due at an approved bank institution or via the internet
  • 5% discount for settlement at the Tax Department’s Offices.
• If the tax due is not settled by the 31^st December, then a penalty of 10% will be imposed on the total tax due.

Published on Tuesday 1st September 2015