The House of Representatives approved unanimously on Thursday the abolition or reduction of the transfer duties for the period of six months.

The proposal provides for a cut in the transfer duties by 50% for the registration of the property title deed when the VAT is not paid as well as its full abolition when the VAT is imposed.

The draft law will be effective for six months, until the government submits a completed proposal, based on the Finance Minister’s commitment.

At the same time,the House approved an amendment according to which all applications that will be submitted within the six-month period and are not approved for technical problems, could enjoy the same advantage.