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New tax will push house prices up, Iraq's real estate market into recession
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Baghdad Today - Baghdad
Economic expert Nabil Al-Marsoumi revealed, today, Friday (September 27, 2024), a new increase in the real estate transfer tax in Iraq.
Al-Marsoumi said in a post on his personal account on the Facebook platform, which was followed by Baghdad Today, that there is a new increase in the real estate transfer tax from 40% on residential property to 100% on commercial property, which will lead to an increase in house prices and a stagnation in the real estate market.
Al-Marsoumi published a document issued by the General Tax Authority regarding the imposition of new taxes based on the Cabinet’s decision.
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