The unpaid property registration tax is the smallest part of the overall tax evasion, but it still lead to losses amounting between $250 million and $300 million.
An economic report stated that the property registration operations in 2015, before the market hit stalemate, reached 72,000 operations, adding that the manipulation of price estimation cost the state treasury $350 million.
The sale of property and estates decreased in 2018 failing to exceed 50,000 operations.
The report noted that many estates are registered at an estimated price less than the actual price by 20%, in a bid to reduce the registration tax value.
For more details, watch the full report in the video above