Luxury Real Estate Blog and News
China will tighten its restrictions on foreign real estate investment in 2011 with local authorities being asked to increase supervision.
How favorable are the taxes on investors and foreigners in Mongolia? Ever since 2006 the tax environment has become a lot more favorable. Until 2006, income was taxed on a sliding scale. If your income was less than 2,400,000 tugrug annually, (roughly $1655 by today’s exchange rates) only a tax of 10% was incurred. This tax quickly exceeded 30% if the tax payer made in excess of 4,800,000 tugrug annually, or $3,310 per year. On top of that, any temporary or non-resident tax payer would be expected to pay an additional 20% per year.
The new property tax law in Egypt is likely to be introduced gradually, the country’s president has confirmed. President Mubarak said there are no plans to change the tax which is facing considerable opposition from those that claim it will be too much for a recovering real estate market as it will make owning property more expensive. A government spokesman said that the property tax will not be a huge financial burden on real estate owners.
The tourist high season will often see some visitors to the Kingdom tempted into making a more permanent connection with Thailand. If you are considering the purchase of a holiday home in Thailand, here are some tax pointers to help you on your way.