The buyer bears 7.5 % of the property value Tweet Amlak newspaper corrects the perception of real estate. Zakat and Income confirms: The seller is responsible for supplying the 1.5TP3T to the Authority

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The tweet published by Amlak Real Estate newspaper in its official Twitter account sparked a wide debate in real estate circles and social networking sites; it revealed the lack of clarity of the concept of value-added tax for real estate and how to collect it for many of those working in the real estate sector.

Amlak had published the tweet, as its approach in communicating information to businessmen and clarifying the regulations in a simple and direct manner, and summarized that the seller is responsible for supplying the value added tax, which is defined by the regulations as 5%, and the tweet confirmed the lack of familiarity of the parties (seller and buyer) with the regulations, which led to the cancellation of real estate sales.

Amlak has published the tweet, as its approach in communicating information to businessmen and clarifying regulations in a simple and direct manner.

In response to the comments, reactions and questions refusing to accept the information, the General Authority for Zakat and Income confirmed the validity of the information that Amlak newspaper went on Twitter regarding the collection of value added, and commented confirming (the value added tax 5% is collected by the seller and supplied to the General Authority for Zakat and Income through tax returns).

Response to comments, reactions and questions refusing to accept the information, the General Authority for Zakat and Income confirmed that the information that Amlak newspaper went on Twitter is correct.

For his part, Mr. Abdulaziz Al-Issa, editor-in-chief of the newspaper, stressed the approach of "Amlak Real Estate" in providing information and explaining the regulations that concern real estate and noting them so that they are accessible to businessmen, and called on readers and followers of "Amlak Media" to be careful in understanding what is meant so that false or incomplete information is not generalized, On the value of the added tax, Al-Issa limited himself to his explanatory tweet "The tax 5% the seller must supply to Zakat and Income from the buyer of the taxable property, and it is recorded on the seller until it is deposited and declared, so the explanation is that the buyer has to 7.5% of the value of the property, which is the sum of the two percentages (pursuit and tax)."