LAND AND BUILDING TAX

Is there any tax obligation other than VAT and income tax?

There is another tax called Land and Building Tax, which is administered by the Land and Building Tax office for land and buildings located within its jurisdiction.

What is the definition of land and building according to this law?

Land means the earth surface and earth body to be found underneath;

Building means any technical construction planted into or attached to the earth and/or water permanently;

Who is the Taxable Person for Land and Building Tax?

The Taxable Person is an individual or an entity who owns a right over the land and/or obtains benefits from it, and/or owns, control and/or obtains benefit from a building.

What is the base of Land and Building Tax?

The base of Land and Building Tax is sales value, which is defined as the average price obtained from an arm’s length sale and purchase transaction. Should there not be any such transaction, the taxable sales value is determined by a comparison of price with another object of the same kind, or the new acquisition value, or a substitute taxable sales value.

When do I have to pay Land and Building Tax?

Land and Building Tax should be paid at the latest 6 months after the date of receipt of the tax notice by a taxpayer.