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The Cabinet has planned a new tax on purchase of housing: what will happen to prices

The new initiative could raise prices for new apartments. Photo: Pixabay

The new initiative could raise prices for new apartments. Photo: Pixabay

The Cabinet of Ministers has proposed a new tax on apartments. When selling or buying a new apartment, one will need to pay a tax of 20%, according to the text of the government bill No. 5600.

The publication Obozrevatel reports that the opinions of experts on the issue of the new tax diverged. The new tax, as well as the intended levy of personal income tax of 18% on the sale of more than three apartments per year, could lead to a significant increase in housing prices and a drop in the income of developers.

The Association of Real Estate Experts stated that there are no reasons for a sharp rise in apartment prices. At the same time, expert realtor Serhii Kostetskyi believes that the cost of new apartments will skyrocket, and many small developers will declare themselves bankrupt.

Only housing that Ukrainians will buy under special state programs and housing that was fully built at the expense of state funds will not be subject to the new tax according to this law.

Context. On June 2, the Cabinet of Ministers registered the so-called "resource" bill in the Rada. The document was fully focused on levying new taxes in Ukraine.

In 2021, Ukrainians must pay tax on real estate they own by September 1. Owners will get the receipts for their housing by July 1, 2021.

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