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Thailand: Land, Building Tax Draft Considered

(Sept. 5, 2017) Thailand is considering changes to its land and buildings tax, including a provision to allow local authorities in the future to appraise property values. The current system in which sometimes rental income is used to determine tax liability will be ended.  A draft bill on the subject, prepared by the Council of […]

Vietnam: Foreigners Permitted to Own Homes for 99 Years

(Aug. 30, 2017) Under a draft law now being considered in Vietnam, foreigners would be allowed to own houses for as long as 99 years. In addition, anyone would be able to mortgage assets associated with land-use rights at foreign credit institutions.  The proposed legislation was discussed on August 2 by the Standing Committee of […]

Indonesia: Rules Eased on Who Can Buy Land for Infrastructure Projects

(Jan. 6, 2017) On December 2, 2016, Indonesia’s President Joko Widodo signed a presidential regulation that eases existing rules on the acquisition of land for infrastructure projects.  In the past, only the central and regional governments could acquire land for the projects, but budget limitations often delayed infrastructure development.  (Govt Now Allows SOEs, Private Sectors […]

Iceland: New Home Sharing Law To Take Effect January 1, 2017

(Nov. 29, 2016) On May 31, 2016, the Icelandic Parliament (Althingi) passed a new law amending the Act on Restaurants, Lodging and Entertainment. (Lög um breytingu á lögum um veitingastaði, gististaði og skemmtanahald nr. 85/2007 (heimagisting, veitingastaðir án áfengisveitinga, ótímabundin rekstrarleyfi) [Act on Amending the Act on Restaurants, Lodging and Entertainment 85/2007 (Private Accommodation, Restaurants Without […]

Indonesia: Central Government Advocates Lower Local Real Estate Taxes

(July 21, 2016) Indonesia’s national government has asked municipal governments to reduce the building and land acquisition taxes they impose and to allow special tax treatment for real estate investment trusts (REITs). The purpose of the reductions would be to increase Indonesia’s competitiveness in attracting investment. (Anton Hermansyah, Govt to Give Local REITS Special Tax […]

Belarus: Tax Code Amended

(Feb. 12, 2016) On December 30, 2015, Belarus adopted a law amending its Tax Code. The new legislation, Law No. 343-Z, came into effect on January 1, 2016, and made changes to provisions for both corporate and individual tax payers. (Belarus Tax Update 2016, SORAINEN (Jan. 2016); Viktar Strachuk, Belarus: Law Introducing Tax Amendments for […]

China: Restrictions Eased on Foreign Investment in Real Estate Market

(Sept. 9, 2015) On August 19, 2015, China released the Notice of the Ministry of Housing and Urban-Rural Development (MOHURD) and Other Departments on Amending the Policies Concerning Access by and Administration of Foreign Investment in the Real Estate Market . (Zhufang Chengxiang Jianshe Bu Deng Bumen Guanyu Tiaozheng Fangdichan Shichang Waizi Zhunru he Guanli […]

United Kingdom: Proposal to Jail Landlords Who Rent to Illegal Immigrants

(Aug. 12, 2015) The government of the United Kingdom has recently proposed measures that would create new offenses applicable to landlords who knowingly rent to illegal immigrants. The proposed measures will be two-pronged. On the one hand, they will allow landlords to end the tenancy of immigrants if the persons’ permission to remain in the […]

Germany: States Implement Federal Rent Control Act

(Aug. 3, 2015) On June 1, 2015, a new federal act on rent control entered into force in Germany. The Tenancy Law Amendment Act authorizes the individual German states to enact regulations to designate “tight housing markets” in which a rent cap will apply. Twelve of the 16 German states (Länder) have implemented the Act […]

Maldives: People’s Majlis Passes Amendment to Constitution Allowing Foreign Ownership of Land

(July 30, 2015) On July 22, 2015, the People’s Majlis, the unicameral parliament of the Maldives, passed a bill amending the 2008 Constitution to allow foreign ownership of land. President Yamin Abdul Gayoom ratified the bill the next day. (Shan Anees, President Ratifies Land Ownership Bill, HAVEERU ONLINE (July 23, 2015).) The bill reportedly amends […]