President ratifies Seventh Amendment to the Land Act

President Abdulla Yameen Abdul Gayoom has ratified the seventh amendment to the Land Act (Act No. 1/2002). The amendment bill was passed by the parliament on Monday, 8th August 2016, at the thirteenth sitting of the second session of the People’s Majlis.

On ratification, the Act has now been published on the Government Gazette.

The amendment to the Land Act exempts first time home buyers from paying tax to the Government when purchasing a dwelling.