The Committee on Finance and Banking, Taxation and Customs Policy recommends that the Parliament should adopt as a basis the bill to amend article 172 of the Tax Code of Ukraine (re property valuation)

Information Department
20 November 2012, 10:11

 

The bill (Reg. No. 10645) suggests amend article 172 of the Tax Code and establish that the income from the sale of real estate object, as well as assessed valuation of real estate and objects under construction that are sold (exchanged) by natural persons, is predetermined by the prices mentioned in the purchase agreement, but not less than the assessed value of such object specified in the order, established by the Cabinet of Ministers of Ukraine.

 

The Committee members believe that implementation of bill provisions will promote resolving problematic issues regarding real estate assessment for the purpose of personal income taxation, obtained from the sale of such property.