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6. Appropriate Regulation
6.1 Fair Tax Regime
6.2 Professional Services
6.3 Capital Markets

6. Appropriate Regulation

Goal – A comprehensive regulatory regime that is transparent, efficient, simple in its implementation and that leads to accurate reporting of property values and prudent protection from market risks

  

6.1 Fair Tax Regime (Very Weak)

Core Question: Do market participants feel the overall tax rate is fair and participate in formal transactions?

Strong – The top individual and corporate income tax rates are around 20%.

Transfer Tax (Weak)

6.1.1   What is the total property transfer tax including all duties and payments?

Overall Tax (Very Weak)

6.1.2   What is the overall tax rate on entrepreneurs(as a percentage of profits)?

Source:
http://www.tax.gov.kh/en/

6.1.3 Divestment (Unknown)

Survey Question

SQ 24  What is the tax on profits for foreign investors when divesting property?

Source:

USAID Land Tenure and Property Rights Portal www.usaidlandtenure.net/albania

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6.2 Professional Services (Weak)

Core Question:  Are the professional services necessary for efficient and transparent property markets available and appropriately regulated and supervised?

6.2.1 Asset Valuers (Weak)

Survey Questions

SQ 25  Are property valuers licensed and/or certified by the government?

SQ 26   How effective are mechanisms in place to discipline valuers who engage in misconduct?

6.2.2 Brokers & Agents (Weak)

Survey Questions

SQ 27  Are real estate brokers and agents licensed and/or certified by the government?

SQ 28  How effective are mechanisms in place to discipline brokers or agents who engage in misconduct?

Source
http://www.cvea.org.kh/

6.2.3 Mortgage Professionals (Weak)

Survey Questions

SQ 29  Are mortgage professionals licensed and/or certified by the government?

SQ 30  How effective are mechanisms in place to discipline mortgage professionals who engage in misconduct?

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6.3 Capital Markets (Weak)

Core Question: Are capital markets well-regulated and diversified enough to provide financial resources to private-sector entrepreneurs and innovators?

Capital Flows (Very Weak)

6.3.1  How restricted is the flow of capital into and out of the country?

Source:

The Global Competitiveness Report 2015-2016, World Economic Forum
http://reports.weforum.org/global-competitiveness-report-2015-2016/

Security Exchanges (Very Weak)

6.3.2  Is the regulation of securities exchanges transparent, effective and free of influence from government and industry?

Source:

The Global Competitiveness Report 2015-2016, World Economic Forum
http://www.weforum.org/issues/global-competitiveness

Securitization (Strong)

6.3.3   What is the depth of asset-backed securities, mortgage-backed securities, high-yield bonds and highly leveraged loans?

Strong – 18th out of 57 countries

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