In Ukraine, citizens who sell real estate or vehicles should consider tax obligations after concluding a deal. In some cases, the state will have to pay up to 23%, UNN reports with reference to the State Tax Service of Ukraine.
Details
In particular, in the case of real estate sales — apartments, residential buildings, or individual land plots — different tax rates are provided depending on the number of transactions and the period of ownership of the property. If this is the first sale in the year and the object has been owned for more than three years, no tax is paid. Inherited property is an exception.
At the same time, if real estate is sold for the second time during the year or has been owned for less than three years, a 5% personal income tax (PIT) rate and a 5% military levy are applied. The same conditions apply to the first sale of other real estate objects that do not fall under the preferential category.
As for movable property, in particular cars, motorcycles, and mopeds, the first sale in the year is not taxed. The second sale is taxed at 5%. If the third and every subsequent sale occurs, the rate increases to 18% PIT and an additional 5% military levy.
For other vehicles that are not cars, motorcycles, or mopeds, separate rules apply. The first and second sales are taxed at 5%, and starting from the third, 18% PIT plus 5% military levy.
Experts advise carefully monitoring the number of transactions during the year and the terms of property ownership to avoid violations of tax legislation and possible fines.
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