The Council of Ministers Decree No. 2009/14802 dated 16 March 2009 and 2009/14812 dated 29 March 2009 reduced VAT rates from 18% to 8% for the purpose of residence and office sales exceeding 150m2 until 15 June 2009 and 30 June 2009, respectively. Additionally, the Council of Ministers Decree No. 2009/148123 applicable from 29 March 2009 until 30 June 2009 reduced title deed charges for the sale of immovable property from 0.15% to 0.5% (to be calculated over the entire declared value of the immovable property) applicable for both the vendor and purchaser.

However, since the recent Council of Ministers Decree (No. 2009/15081), dated 12 June 2009, does not indicate the extension of the said VAT and title deed charge incentives, the respective rates have returned to 18% and 0.15%.