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What are the tax implications if I gift my property during lifetime or bequeath it on death?

April 26, 2017bequeath death gift implications lifetime Property tax

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What are the tax implications if I gift my property during lifetime or bequeath it on death?

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Where a property is gifted or transferred, a property tax is payable by the beneficiary at a rate of 3% of the tax registered value. However, this amount is subject to revaluation by the authorities where they consider that the consideration was not equal to the market price.