Home » today » News » The land market opens on July 1. The Ministry of Justice of Ukraine named the amount of tax / GORDON

The land market opens on July 1. The Ministry of Justice of Ukraine named the amount of tax / GORDON

“After the lifting of the so-called moratorium on the alienation of agricultural plots, during the examination of the agreement on the alienation of such a land plot, it will be necessary to pay: personal income tax at a rate of 5% of the price specified in the purchase and sale agreement; military duty of 1.5% , and even before the moment of notarization of the land plot alienation agreement, “the message says.

The Ministry of Justice noted that the basic calculated value for taxation will be the price specified in the purchase and sale agreement, which cannot be lower than the estimated value of the land calculated by the authorized body.

“The legislative algorithm for the taxation of land transactions also presupposes a number of benefits. For example, owners of agricultural land plots and land shares received as a gratuitous transfer in accordance with Article 121 of the Land Code of Ukraine are exempt from taxation. Benefits under certain conditions and only once a year can take advantage of the persons who received such plots in the course of privatization, “the press service said.



Context:

In March 2020, Ukraine adopted a law on the turnover of agricultural land. According to the law, the land market in Ukraine should start working from July 1, 2021… Until 2023, only citizens of Ukraine will be able to buy land, but no more than 100 hectares of land in one hand, from 2023 the land will be allowed to be bought by legal entities – residents of Ukraine (no more than 10 thousand hectares in one hand). Whether to sell land to foreigners, Ukrainians will decide in a referendum. State and communal agricultural land will not be sold.

To complete the land reform, the Rada had to adopt two more bills. The first – №2194 – Rada adopted in second reading and in general with technical and legal amendments on April 28. In particular, it allows transfer state-owned land outside settlements into communal ownership and cancels the requirements for the intended use of agricultural land. Amendments to it considered since the beginning of March… President of Ukraine Volodymyr Zelensky publicly signed it on May 24.

The next on the agenda of the parliament was the project №2195regulating the conduct of electronic auctions for the sale of land. He was accepted on May 18.

On January 5, 2021, the Minister of Agrarian Policy and Food of Ukraine Roman Leshchenko said that in the next three years in Ukraine will hold a referendum on the sale of land to foreigners.

According to Leshchenko, there will not be a sharp jump in prices for agricultural land after the launch of the land market in Ukraine – average cost per hectare will fluctuate within 50 thousand UAH. Shmyhal in May predicted that within 5-10 years after the launch of the land market, its value can increase by two to five times.

According to a survey conducted at the end of April by the Sociological Group “Rating”, 77% of Ukrainians are convinced that the issue of introducing a market for agricultural land in the country should be considered at an all-Ukrainian referendum.

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