Reported 12 months ago
Starting on July 1, 2024, the Property Speculation Tax 2.0 will be implemented, causing concern among developers as it is seen as disadvantageous to those who build and sell properties later. The new law increases the tax burden, leading to a potential indirect transfer of costs to rental prices, which may continue to rise. Critics argue that this law unfairly penalizes post-construction property developers and could ultimately harm ordinary citizens by transferring the increased tax burden to homebuyers and renters.
Source: YAHOO