Transfer tax possible moves

tonyf


Joined: 29/03/2009
Posts: 153

Message Posted:
27/02/2012 13:44

Two points worth mentioning from a recent email from my advocate Number 1 potential move on reverting back to the 3% transfer tax, my original comment on 44 saying it was in conflict of ECHR ruling and pure racism and secondly Munir Akil is, in my opinion, a very reliable and very prompt representative. I don't expect the usual negative comments about Munir please. I speak from personal experience and as I find.

"Dear Tony

Thank you for your e-mail dated 25.2.2012. I remember we spoke with Kavanlar and they were ready for share deeds. But at present all deeds processes are at standstill as there is an expectation that goverment might revise this 6% transfer charge, I cannot say when or if they ever will. Hope to see you end of March.

Regards,

Munir Akil

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
27/02/2012 16:01

all m,ust have negative thoughts since no one commented!

Tangerineman


Joined: 08/03/2010
Posts: 318

Message Posted:
27/02/2012 16:04

Can anyone verify if this on the agenda?

As a result of my builder not being able to pay his KDV when required I've not got to find an extra 3% and as that's an extra 5k on two properties I will be pig sick if I pay it and then find the rate reduces back down to 3% in a matter of weeks

tonyf


Joined: 29/03/2009
Posts: 153

Message Posted:
27/02/2012 16:14

Thanks Sal, you maybe right or are all the bs merchants waiting to see who comments first and what happens next before commenting?



Tangerineman I would wait before paying any further amounts you could save yourself a fair bit, don't forget we are talking about transfer tax and not vat (kdv).

suehowlittle


Joined: 31/10/2010
Posts: 1202

Message Posted:
27/02/2012 16:47

After waiting for maybe 5 years or so to be able to transfer, would it really hurt to wait a few months to see if the new law reverts?

Tangerineman


Joined: 08/03/2010
Posts: 318

Message Posted:
28/02/2012 00:27

Cheers Tony

I'm caught in a bit of a quandary as there is always a risk of someone slapping a charge on the land but on balance I think you are right

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
28/02/2012 07:50

I have heard from a reliable source that all lawyers have approached the government about this. It is the lawyers who are refusing to transfer the deeds until the government revert back to the 3% tax, as the majority of us will have signed a contract stating the 3% transfer tax when we bought our properties. It is not our fault that it takes so long to get to the transfer of deeds stage.







The butlers wife

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
28/02/2012 08:39

Who's to say they wont raise it again to 9%? stranger things have happened in the TRNC.

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
28/02/2012 08:52

well,I paid 6% on the first property I bought in girne and it was based on what they had valued it,not what I paid for it............god I love kakalItece