Akimova: Real estate tax will only pay the owners of luxury apartments

13.06.2010 19:50
First Deputy Head of Presidential Administration Irina Akimova said that the new draft Tax Code provides for a tax on real estate only for apartments over an area of 300 square meters.

"There is only a general framework conditions in connection with this tax (on property), they are mainly related to real estate in excess of 300 square meters. " - she said.

Akimov emphasized that the majority of the country, this tax will not be affected. She also noted that the draft Tax Code provides for the receipt of this tax to local budgets.

As previously reported, the Ministry of Finance prepared a bill on taxation of objects of luxury, which provides for the introduction of the annual tax on owners of luxury apartments at 20 USD per sq.m. area exceeding 300 sq.m.
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