Zahra Habib
The government warned of the seriousness of the project by a law related to amending Article (59) of the Real Estate Registration Law, confirming that it opens the door to circumvent the law by concluding mock contracts for real estate registration in the name of others in order to benefit from the proposed exemption from the real estate registration fees, without right. The government explained that the amendment presented would cause a direct negative impact on the state’s public treasury revenues, at a time when the Kingdom seeks to enhance financial balance and reduce the budget deficit. She indicated that the exemptions currently stipulated in laws and regulations are sufficient to achieve the desired purpose of supporting low -income people, especially through the exemptions granted to those with loans from the Housing Bank. The project is scheduled to be presented by a law to vote at the Shura Council session scheduled for tomorrow.
