Muscat: A ministerial decision to collect 5 per cent of land value on specified registrations was issued yesterday.
Sheikh Saif bin Mohammed Al Shabibi, Minister of Housing issued the Ministerial Decision No. 13/2016 which replaces para “1” and para “3” of the annex “7” regarding registration and authentication fees for some legal transactions.
Article “1” of the decision stipulates that 5 per cent of the value of the land will be collected as fees upon registration of the sale and grant contracts from others and from non-first-kin relatives.
Article “3” states that 5 per cent of the value of the land will be collected upon registration of the granted land plots.
As per the provision of article “2” all that contradicts and contravenes with this decision will be cancelled. The decision comes into force on February 1, 2016.
Ahmed bin Abdullah Al Shihi, Minister of Regional Municipalities and Water Resources issued a ministerial decision.
Article “1” stipulates that the landlord of any property or part of it, or the tenant, if so agreed with the landlord, shall pay 5 per cent of the total lease value shown in the lease contract.