Cabinet has approved the executive regulations of the White Land Tax yesterday, 13 June. Implementation will take place over four phases. The first phase will cover undeveloped land plots with areas of 10,000 sqm and more. At a later stage, in case the target of the tax (to create more balance between supply and demand of land plots) is not adequately achieved, further phases will be launched, through ministerial decrees by the Housing Minister. The Ministry of Housing will be responsible for the collection of the tax and the penalties, if any. It will also be responsible for imposing measures to prevent tax evasion. Fair values of the land plots will be set by at least one committee, comprising three members. The Ministry of Housing had announced the launch of a new website dedicated for white land tax, in conjunction with the Ministries of Justice, Commerce and Investments. The website will act as a platform to collect fees for White Land Tax. The website will also present details on the mechanism of the calculation of the fee. Land owners are required to register their land plots on the website within six months from the date of the release of the final regulations of the White Land Tax, i.e., yesterday. (Argaam, Reuters)