CIVIL CODE AMENDMENT
Amendments to the Civil Code were published in the Collection of Laws as number 89/1996. Under the amendments, the transfer of ownership of real estate, which is not registered in the real-estate register (e.g. unfinished constructions, certain underground constructions), based on a contract is effective as of the date the contract becomes effective. The amendment is effective from 1 July 1996.
AMENDMENTS TO INHERITANCE, GIFT AND THE REAL ESTATE TRANSFER TAX ACTS
Amendments to Inheritance, Gift and the Real Estate Transfer Tax Acts were published in the Collection of Laws as number 96/1996. The amendment clarifies that a financial donation to an individual will be exempted from gift tax provided that the beneficial owner of such donation uses it for educational or health purposes. The amendment is effective from 26 April 1996.
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