About the Initiative
Prepare and implement the following:
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A fee system to facilitate the key organizational and partner services, under REGA’s objective of Financial Sustainability.
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Benefit from the VAT Mechanism in developing incentives to promote development and attract investments of real estate assets in the Kingdom.
The contribution of the initiative to the achievement of the strategic objective
A Transparent and Sustainable Real Estate Sector
Pillar
Sector Empowerment and Sustainability
Initiative-related Outputs
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Coordinate with the Non-Oil Revenues Development Center, as the Real Estate Transfer Tax (5%) replaces Value Added Tax (VAT) (15%) on real estate and the approval thereof.
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Submission for the Royal Approval of a proposal to use the Real Estate Transfer Tax as an incentive to the real estate sector in areas planned for development.