Deed Warning From The Ministry Of Finance
The Ministry of Finance warned residents that they should declare real estate at the real price they buy for cash or credit.
According to the news in Sabah Newspaper; The Ministry of Finance started mobilization to show the real declaration of all title deed transactions, especially home-shop buying and selling, title deed payments, tax loss due to low price, low evaluation of appraisal value.
Deed warning from the Ministry of Finance
The Ministry of Finance warned its citizens in 10 themes:
1- Fees under the lens: Deed fees should be paid on the real value of the real estate, not less than the tax value.
2- Report actual price: declare actual price in title deed transactions.
3- Missing payment penalty: Missing title deed fees collected from the buyer-seller is suspended. Do not allow your home bill to be lowered to pay less tax.
4- Receive invoice: Receive the invoice for the price you paid from the contractor, the construction company and the commissioners.
5- Notification of unauthorized persons: There may be victimization due to transactions made by unauthorized persons in the title deed directorates, and indifferent brokerage services are causing a tax loss.
6. Report unregistered work: Notify the real estate agent who does not pay the bill, the nearest tax office, or the Tax Communication Center.
7 – Another city: You can buy and sell transactions in another city or from the nearest title deed.
8- SMS alert system: By registering your mobile phone number on the e-government system, you can be informed about any movements with or without your knowledge about your movements.
9- It can also be done abroad: It can be done abroad at the consulate representation of Berlin Consulate General.
10- Attention to the time: When real estate is resold in the purchase and sale of real estate within 5 years, value-added income tax is paid.