The Minister of Finance described the real estate market as a haven for money laundering and a front for the shadow economy, and considered that the sales law would control the market.
Minister Kenan Yaghi explained in press statements that “the real estate market represents the main destination for money laundering due to the absence of supervision or accountability, as most of the funds are unknown or suspicious of origin,” as he put it.
He added that “the sales law will be the founding axis of an organized and balanced real estate market, especially that the market has strange specifications and characteristics, the most important of which is that it is a large part of the shadow economy.”
In a recent speech to the parliament, a member of the People’s Assembly, Faisal Jammoul, considered that the parliament was oppressed by the Ministry of Finance, which has become more in control of determining taxes through the sales law.
He added that the law was not as the Minister of Finance in Parliament had talked about, that is, that the estimation on the real estate’s popular value was actually, and that each property took its right, but it seems that the Ministry of Finance guessed on Google and its assessment was not accurate, as he put it.
The former Minister of Economy, Lamia Assi, recently criticized the real estate sales law, and stressed that the law raises real estate prices and hinders the reconstruction process.
The government recently imposed on real estate sellers and buyers the presence of a bank account through which buying and selling takes place, with a deposit of 5 million pounds in the seller’s account, as well as freezing half a million pounds of deposit for three months.
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Allow the opening of internal money transfer companies that have frozen their licenses to deliver “pending” transfers