Parliament accepted for consideration on Monday, a Bill on Amendment to the Land Act, which seeks to waive off taxes for first-time flat buyers.
The bill tabled on behalf of the Government by Funadhoo MP Ali Saleem was accepted for consideration with the unanimous votes of 53 lawmakers. The bill seeks to exempt first-time buyers, from the 15 percent tax imposed on the total sale price of flats and apartments.
It was sent to the Parliamentary Committee on National Development for further review. 13 members spoke during time allocated for plenary debate on the bill. Lawmakers noted that the amendment would have a positive impact, especially with the Government undertaking multiple housing projects across the country.
Parliament also held the plenary debate on the Amendment Bill on the Employment Act, tabled by Thulusdhoo MP Mohamed Waheed Ibrahim. The first-reading of this bill was held on June 20.