Law Talks

DRKI maintains a strong commitment to share our knowledge to clients, friend and the community. Below are the articles and publications edited by DRKI professionals in different occasions and for various industry journals.

 

Current

The Land and Building Tax Act was published in the Governmental Gazette on March 12, 2019, and starts to impose tax from January 1, 2020 onwards. 

Land and building owners, as of January 1st of any taxable year, will be taxed at progressive rates on the values of these assets as appraised by the Treasury Department. Tax rates on land and buildings will vary depending on their use – agricultural, residential, commercial, or unused.

The new tax regime, replacing the Household and Land Tax Act and the Local Land Development Tax Act, is expected to significantly affect owners, especially those holding land and buildings for commercial purposes. The new law provides certain relaxations from 2020 to 2022.

We provide calculation steps for owners of commercial land and buildings to estimate their tax liabilities in order to effectively plan their taxes for these assets.   

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Journals & publications

 

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