The IMF proposes a real estate on Saudi Arabia. Is it easy to apply?

Hammed Bin Hamri, CEO of Tamkeen Investment and Real Estate Development Company, believes that the application of the real estate tax in Saudi Arabia, proposed by experts in the International Monetary Fund, is difficult to apply in the short term. He said in an interview with “Al -Sharq” that the tax is imposed, although it will increase the government’s revenue that reduces the budget deficit, but it will cause duplication with the tax on white land that is expected to be applied at the beginning of next year, adding that it will tax Die Burger with limited income, and this could also lead to the escape of the capital abroad. Bin Hamri pointed out that the application of the tax must be preceded by the existence of an adult and clear real estate evaluation system that includes and relied on all continents in the country to determine the tax based on the price of real estate unit.