Dishonest real estate transaction
Buyers who purchase property at a lower cost, will pay the taxThe Federal Tax Service in collaboration with the Ministry of Finance has figured out how to make the property market more transparent and to improve tax collection. The recipe is unusual. For starters, officials propose to set the maximum allowable discount (in relation to the cadastral value of real estate) to sell the apartments. And then to oblige buyers to pay personal income tax if they purchased a property on an obviously low price.

The developers of the law believe that the “notoriously low” price can be called in if it differs by 20-30% of the cadastral value of the object. Recall that the cadastral value today is as close to a market.
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The developers of the law believe that the “notoriously low” price can be called in if it differs by 20-30% of the cadastral value of the object. Recall that the cadastral value today is as close to a market.
So if an object with the cadastral value of 7 000 000 dollars according to the contr...