A parliamentary standing committee has passed a bill to provide tax reduction for long-term leasing operators.  

The National Assembly’s Strategy and Finance Committee held a meeting on Thursday and approved a revision to cut the income tax and corporate tax by five percent for those leasing properties for five years or more. 

The revision was formulated to increase benefits for property owners in line with a recent bill aimed at strengthening legal protections for tenants.  

Both bills will be reviewed at the Legislation and Judiciary Committee before being put to a vote at a plenary session.