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Posted by mseidner on September 10, 2004 at 04:26:12:
information regarding certain issues in Ukraine can be hard to come by, however I have discovered and will post here, the real estate tax rules for Ukraine:
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Income from disposal of real estate
With effect from 1 January 2005 income from disposal of real estate will be taxed as follows.
Sale of one apartment or house (including attached land) per year that was acquired prior to 1 January 2004 is taxed at the rate of 1% for first 100 sq. m of premises and 5% for the portion of income attributable to premises exceeding 100 sq. m based on the property value.
Sale during a reporting year of more than one apartment, house, unfinished construction or other real estate acquired before 1 January 2004 is subject to tax at 5% rate based on the property value.
Sale of real estate acquired after 1 January 2004 is taxed at a standard rate based on gain realized from the sale. In case of sale of one apartment/house per year, taxable gain can be reduced by 10% for each calendar year of the property ownership, except for year of the property acquisition.
Mark Seidner, Sevastopol, Ukraine
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