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Real estate agents continue to work under the table
New, stricter rules brought into effect 1 January that were supposed to limit cash payments to prevent money-laundering are being ignored by real estate agents, according to news reports. The latest Belgian legislation forbids payments exceeding 3,000 euros to be made in cash, and in real estate cash transactions are not allowed. It is common practice in Belgium to pay part of a real estate deal in cash, and apparently it continues despite efforts to stop it.
A news report revealed that 8 out of 10 real estate agents are readily prepared to be paid in cold hard cash. Although they face steep fines and the threat of losing their license, the offer of cash seems to good to deny, especially when clients are happy to dish it over. By paying cash, property buyers avoid paying higher notary fees and increased taxes.
Comments
Maybe if notary fees and taxes weren't so outrageously high then people wouldn't do it....
So, why exactly would one expect the real estate agents to be the only ones who work off the books to save on the ridiculous taxes to support the riffraff & lazy !! As far as I can see, absolutely everyone is doing that...
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The latest Belgian legislation forbids payments exceeding 3,000 euros to be made in cash, eye doctor near me open saturday and in real estate cash transactions are not allowed.