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The new law requires that all actual estate transactions be made via Cuban financial institution accounts in order that they can be better regulated, and it sets a tax price of 8 p.c of the assessed worth - split equally by purchaser and vendor. At an intersection in central Havana that for decades has served as the city's underground real estate bazaar, people said the tax price seemed cheap in the summary, however it'll rely drastically on how authorities find yourself valuing the properties.
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