While it has brought considerable relief mostly to citizens, it is thought there is one more aspect that needs to be considered in order to harmonize the Transfer Duty with other major tax Acts.
The new Transfer Duty which was amended and enacted on the 28th of August this year brought with it new developments, notably the exemption of first-time residential property and undeveloped plot-owners from paying the duty.
Transfer duty is a tax payable by the acquirer of the immovable property.
Although it brought welcome developments and improvements, a tax consultant- Jonathan Hore, feel...
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