Visit The Syria Report Subscribe to our mailing list
EN ع
  • Twitter
Syria Report
  • All articles
  • News
  • Analysis & Features
  • Reports & Papers
  • Regulations
  • Directory
  • Search
  • Menu Menu
Home1 / HLP2 / Analysis & Features3 / Cadastral Affairs: New Real Estate Transaction Fees to Be Based on ‘Current Value’4
Print Friendly, PDF & Email

Cadastral Affairs: New Real Estate Transaction Fees to Be Based on ‘Current Value’

28-04-2021/in Analysis & Features, HLP /by admin

After approval from the Parliament, the presidency in recent days issued Law No. 17, which lists the real estate service fees collected by Cadastral Affairs. The new law utilises the current value of real estate to set and collect certain real estate service fees.

According to state media, Law No. 17 of 2021 aims to “achieve justice” in collecting real estate fees, as well as develop real estate services and provide such services electronically. The new law was issued about a month after the related Law No. 15, which regulates Property Sale Taxes and offers a mechanism for calculating such taxes. The two laws will officially go into effect together, on May 3, 2021. 

Law No. 17 replaces Law No. 429 of 1948 and its amendments. The new law also amends Legislative Decree No. 44 of 2005, which set the stamp fees for transactions related to contracts, deeds, documents and other papers, as well as Law No. 35 of 2007, which concerns governorates’ budgets.

Previously, Cadastral Affairs relied either on rates determined by the Ministry of Finance for each real estate area, or on the values listed in real estate sales contracts to calculate service fees for real estate registration. In such calculations, the body chose which of the two values was greater, though in practice the actual values of the properties were significantly depreciated. However, Law No. 17 now uses the current value of real estate as a basis for determining such fees. Under Law No. 15, it is the responsibility of the Ministry of Finance to determine the current value of certain real estate units in a given area, through committees formed for this purpose.

Article 2 of Law No. 17 specified the fees required for real estate registration services, as follows:

  • one per thousand (0.001) of the current value of real estate for recording sales, exchanges, swaps, wills and gifts to people other than ancestors, descendants and spouses.
     
  • 15 percent of one per thousand (0.00015) of the current value for registering real estate transfer transactions for inheritances or gifts to family members and spouses.
     
  • one per thousand (0.001) of the debt value for registering foreclosure and cancellation.
     
  • 0.5 per thousand (0.0005) of the increase in the value of the property, in calculating fees for registering subdivision transactions and correcting property descriptions.

According to Law No. 17, Cadastral Affairs will collect a stamp fee of five percent and a local administration fee of 10 percent, from the fees listed within the law. The law also includes a number of other fees for obtaining certain information or explanatory data.

The most peculiar part of Law No. 17 is Article 11, which says that people must pay the real estate service fees pre-emptively, before obtaining the corresponding service. 80 percent of the fee may be reimbursed if the transaction is not registered in the Land Record. Excluded from this refund are: transfer transactions, corrections of description, data and technical fees, and both stamp and local administration fees.

Law No. 17 exempts government ministries, public institutions, local administrations, endowments, and housing cooperatives from paying the fees.

The issuance of Law No. 17 falls in line with government directives to increase tax revenue to supplement the public treasury. The General Directorate of Cadastral Affairs collected about SYP 5 billion in real estate fees in 2019, according to the body’s director, Louay Khariteh. This amount is expected to increase significantly after issuance of Law No. 17. However, the law may also cause an increase in real estate prices to compensate for the losses caused by the new fees it contains, further freezing the real estate market.

Post Views: 3
Tags: english
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail
https://hlp.syria-report.com/wp-content/uploads/2022/07/Logo-300x81.png 0 0 admin https://hlp.syria-report.com/wp-content/uploads/2022/07/Logo-300x81.png admin2021-04-28 23:30:002021-07-14 16:14:37Cadastral Affairs: New Real Estate Transaction Fees to Be Based on ‘Current Value’

Read also

  • Explained: Decree Grants Tax Exemptions to People Impacted by February 6 Quake
  • Explained: Syrian Law and HLP Rights in Natural Disasters
  • Explained: Issues with the Syrian Construction Code’s Earthquakes Appendix
  • Explained: Earthquake-resistant Building Design Basics
HelpAbout usContact usAdvertise with The Syria ReportTerms & conditions
Copyright © 2022 The Syria Report – all rights reserved. Your use of this website is subject to our legal terms & conditions
Cadastral Affairs: New Real Estate Transaction Fees to Be Based on ‘Current... السكن العشوائي خارج صلاحيات الهيئة العامة...
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Ok

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refuseing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.