The Ministry of Finance has prepared a new version of the tax for the rich  22 January 2013 12:15  4529050 029634

Finance Ministry proposed to introduce in 2014 taxes on commercial premises and large plots of land for the construction and maintenance of buildings, in addition to taxes on apartments, houses and cars. This was informed by the "Kommersant-Ukraine".

January 21, the Ministry of Finance released draft amendments to the Tax Code, that provides for introduction of the taxes on wealth and luxury goods in 2014. The first version of the bill already had already been submitted to the Verhkovna Rada in the summer, but was not considered. Therefore, it was revoked in December. In the finalized document, the MOF retained the requirement to cancel the property tax, which came into force on January 1 as a general tax, and introduce instead a tax on property.

It provides that individuals and entities will pay 0.5% of the appraised value of apartments with a total area of ​​200 square meters and costing more than 1,000 times the minimal wage (ie 1.15 million UAH), of houses with an area of ​​500 square meters and costing 2,500 times the minimal wage (2.87 million UAH), of residential real estate owned by one taxpayer with an area of 600 square meters and costing 3,000 times the minimal wage (3.44 million UAH), the publication informs. 

Unlike in the first version of the document, now the Ministry of Finance also proposed to impose taxes on commercial premises located on the land where the house or cottage is situated. 

In addition, the ministry continues to insist on collecting tax on movable property - the rate will depend on the volume of the engine and the value of the vehicle.  As the newspaper writes, yachts, airplanes, helicopters will be subject to tax by the same principle.

Tags: luxury tax

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