The cost of selling land in Senegal is often shared between the buyer and the seller. seller.
Generally speaking, the buyer pays the notary's fees and the costs of drawing up the deed of sale, while the seller pays the costs of registering the sale with the tax authorities. These fees vary according to the value of the land, and can represent around 10% of its value.
It is important to note that the cost of selling a fieldwork in Senegal can be negotiated between buyer and seller. If you are the buyer, you can try to negotiate for the seller to pay part of the notary's fees and the costs of drawing up the deed of sale. If you are the seller, you can try to negotiate for the buyer to pay part of the costs of registering the sale with the tax authorities. It is advisable to discuss these costs with your real estate agent or notary to find a solution that suits all parties.
Note that as the seller, you are responsible for paying taxes on the sale of your land. These taxes may include value-added tax (VAT) or capital gains tax. VAT is generally due when the sale of your land takes place less than 5 years after purchase. Capital gains tax is payable when the sale of your land generates a capital gain.
See the article: WHERE TO SELL LAND IN SENEGAL?
Consult a chartered accountant or lawyer to find out more about the taxes that may apply to the sale of your property. fieldwork in Senegal and the steps you need to take to pay them. This will ensure that you meet all the tax obligations associated with the sale of your land, and avoid any problems with the tax authorities.
Finally, it is important to note that if you are a foreigner selling a fieldwork in SenegalHowever, you may be subject to specific rules regarding the repatriation of funds generated by the sale. It is advisable to find out about these rules and ensure that you comply with them, to avoid any problems when transferring the money generated by the sale of your land to your country of origin.