Tax evasion rampant in property sales

[InTime News]

The sanitization of the real estate market and the prevention of the gray economy in construction have been sacrificed to the growing problem of housing and the need to increase investments - at least for the next two years.

With property prices heading for new record highs this year, the capital gains tax will be shelved, value-added tax will remain on ice until the end of 2025, while the gap between commercial values and taxable rates (known as "objective values") will widen further, especially in areas where high demand and explosive price growth have been recorded.

That will happen even with the compulsory payment of the purchase price of a property through a bank, a measure which has had limited performance in terms of detecting illegal money.

With property prices up more than 60% from their 2017 lows and the housing supply falling short of demand by at...

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