As of today, the agricultural land market will start operating in Ukraine.
Kyiv. Ukraine. Ukraine Gate – July 1, 2021 – Ukraine News
The right to buy land will be granted to individuals – citizens of Ukraine. From July 1, 2021, to 2024, the right to purchase land will be only in them. From 2024, legal entities will be able to buy land with an area of up to 10,000 hectares.
Before purchasing land, a potential buyer will be checked to see how much land he already has, whether he is under sanctions and whether he is accused of terrorist activity.
An individual will be able to buy 100 hectares in one hand, but from 2024 through a legal entity already 10 thousand hectares.
Formation of land value
From 2030, there will be a normative assessment of land – the minimum cost per hectare will be set. Until then, the land will be sold/bought at a price set by the parties to the agreement. It is expected that the average cost per hectare will initially average 50 thousand hryvnias. It should be noted that it will be possible to pay for the land-only in a non-cash way – through a bank, confirming the source of the money. The easiest way to confirm is a certificate of income.
Purchase/sale agreements will be executed through a notary. State and communal lands will be sold at auctions.
Taxes
An individual, in case of sale of land, has the right not to pay personal income tax and military duty, provided that he sells real estate for the first time during the year, the size of the land does not exceed the rate of gratuitous transfer defined in Article 121 of the Land Code of Ukraine. the plot is owned by the seller for more than 3 years.
In another situation, the citizen will have to pay 5% PIT and 1.5% VAT on the value of the land plot established in the contract. For non-resident sellers, the PIT rate in the case of the sale of real estate owned by them is 18%.
Lands in Ukraine
Experts estimate that Ukraine has 42 million hectares of agricultural land. To date, a moratorium on sales has been extended to 41 million hectares. Of these, 27 million hectares were divided into shares in the 1990s.
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Source: Ukrgate
