Real Estate Valuation
Real estate in Ukraine must be appraised as part of a sales transaction, or for inheritance, pledge, or as a contribution to authorized capital.
Valuations are required to be conducted by independent appraisers who have qualification certificates and a company license issued by the government. In some banks, an assessment is carried out by bank employees with qualifications that meet the same requirements as for independent appraisers.
Taxes and payments
When concluding purchase and sale transactions, participants will have to pay 1% of the market value of the property to the pension fund – in all cases.
1% is charged by a notary for registering a transaction, although there may be discounts in case of a high value object
If ownership time is less than 3 years, a 5% income tax and a 1.5% tax to a military fund will have to be paid.
If the owner is not a Ukrainian citizen, the income tax increases to 18% plus the 1.5% military tax.
Upon inheritance, if the heir is the next of kin, no taxes are paid, and if the inheritance is sold within a period of less than 3 years, income tax and military payments will be levied.
For commercial properties, 5% income tax is always paid in addition to a 5% military tax.
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