Amendment to Immovable Property Tax

Deloitte informs you that on 17 October 2013, the House of Representatives voted for an amendment to the Immovable Property Tax Law.

According to the amendment, a time extension has been granted for paying the immovable property tax with a 10% discount until 5 November 2013.

As a result of the above:

• Every person who settles its tax liability by 5 November 2013 will be provided with a 10% discount on the tax due.

• Every person who settles its tax liability between 6 November and 15 November 2013 will have to pay the full amount of tax due.

• Every person who does not pay the tax due by the deadline date (I.e. 15 November 2013) will be subject to an additional 10% charge on the tax due.

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