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TAX NEWS - June 2010

Ukraine Tax: Azarov Wants Taxation On Flats Over 500 Square Meters

Ukraine Prime Minister Mykola Azarov wants taxation to be introduced on flats over 500 square meters.

Prime Minister Azarov said on the First National TV Channel.

"I think the tax on [flats] over 500 square meters must be [very high]. Any flat under 500 square meters should not be under any tax or there should be a discount tax just for keeping a register," he said.

The prime minister said disputes are underway which flats should be considered luxury and said there would be tough debates on the matter in the parliament.

"Introducing these taxes [on luxury] won't be easy, because our Verkhovna Rada comprises citizens who are least of poor one if I may speak candidly. And some deputies will have to infringe on their own interests," he said.

Azarov said he urged deputies to be behind their personal interests and act in the interests of the society.

He said the task of the government is to close the gap between incomes of the rich and the poor, as the difference causes tension in the society.

As Ukrainian News earlier reported, the Cabinet of Ministers on June 9 endorsed draft Tax Code envisaging a real estate tax.

Presidential Administration First Deputy Head Iryna Akimova said the draft tax code stipulates for introduction of a tax on flats over 300 square meters.

On June 9, Member of Parliament Ksenia Liapina of Our Ukraine - People's Self-Defense bloc faction said the draft Tax Code envisaged a real estate tax at the rate of 50 kopecks per square meter for flats and other premises with floor areas not bigger than 50 square meters.

Apart from this, as to Liapina, the draft Tax Code supposes introduction of a tax at UAH 1 per square meter for premises of floor area from 50 to 100 square meters, UAH 2 per square meter for premises of floor area from 150 to 200 square meters.
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