25.10.2012 - Germany seeks to gain from property boom by closing tax loophole
The German government, which is selling offices, shops and apartments valued at 1.9 billion euros ($2.5 billion) to cut its budget deficit, has another way to tap the nationís property boom: collecting more transfer tax. Germanyís parliament tomorrow will vote on closing a loophole that allows companies to avoid the transfer tax on certain types of property transactions. The typical amount of the levy is from 3.5 percent to 5 percent of the value of the land and buildings that change hands...............................................Full Article: Source
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