The Cabinet of Ministers proposes to introduce a new land tax in Ukraine.
Kyiv. Ukraine. Ukraine Gate – June 08, 2021 – Agriculture
The government proposes MPs introduce a minimum tax liability for land used by country and garden cooperatives, but not formalized.
The amount of tax will depend on the regulatory monetary assessment and will be calculated according to the formula taking into account the indexation coefficient. Those plots that do not have a monetary value will be taxed at a single state rate.
In addition, the document abolishes the benefits of payment for land and land provided to scientific institutions, which are fully maintained at the expense of state or local budgets – in case of misuse of land.
The government’s proposal was introduced as an amendment to the Tax Code. It should come into force on July 1 this year.
The land market in Ukraine:
On April 28, President of Ukraine Volodymyr Zelensky signed a law introducing the agricultural land market in Ukraine from July 2021.
The law provides for gradual land reform: from July 1, 2021, only natural persons will be able to buy agricultural land – citizens of Ukraine with a limit of 100 hectares. In the second stage, from January 1, 2024, the size of the concentration will increase to 10 thousand hectares, and legal entities will also be able to buy land.
On June 13, 2020, the Rada approved a bill on the unbundling of state-owned enterprises.
Read also: The Agricultural Holding Sowed Disputed Lands at Night in Ternopil
Source: Ukrgate
