Transfer Duty exemption for mergers essential

First time citizen home buyers have been given a boost
First time citizen home buyers have been given a boost

The new Transfer Duty Amendment Act of 2019 (Amendment Act), which was enacted on August 28, 2019 ushered in a completely new way of administering transfer duty.

Transfer duty is a tax payable by the acquirer of immovable property.

The most notable improvements included exempting first-time residential property and undeveloped plot-owners from the duty. The said Amendment Act also increased the citizen exemption from P200,000 to P1m, which enhances property ownership by citizens.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up