| Rada Refuses To Introduce Real Estate Tax |
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13/03/2010 10:09 (700 Day 06:38 minutes ago) | ||||
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The FINANCIAL -- The Verkhovna Rada refused to introduce a tax on real estate owned by physical and legal entities and individual entrepreneurs, except for land.
Only 159 members of parliament voted for corresponding draft law No. 2113, while 226 votes were required for passage.
The bill supposed charging the law on all kinds of real property in the ownership of physical and legal entities and individual entrepreneurs.
Tax rates are planned as percent of the subsistence minimum wage set as of the start of the year per square metre of housing.
The tax were to be collected only from citizens total area of whose real estate exceed 300 square metres, and also from people whose income really enable them for procurement of big realty floors.
The bill provided no privileges.
The draftsmen counted that its endorsement would influence affordability of housing in Ukraine , and also to some extent to be a factor curbing of valorisation of real property prices and increase receipts to local budgets.
As Ukrainian News earlier reported, Member of Parliament Mykola Azarov of the Party of Regions faction, then finance minister of the oppositional government, in July 2009 said time was not ripe for introduction of the real estate tax.
At the same time, the Cabinet of Ministers led by Yulia Tymoshenko insisted on the Verkhovna Rada's consideration of the real estate tax bill next plenary week of July 7 to 10, 2009.
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