BAKU, Azerbaijan, Dec. 4
By Klavdiya Romakayeva - Trend:
Uzbekistan will introduce a mechanism for calculating property tax and land tax based on the cadastral value, close to the market value of real estate, Trend reports with reference to Norma.uz information and legal portal.
The Presidential Decree “On further improvement of resource taxes and property tax” has been adopted.
According to the Decree, at the first stage (2021–2023) a mechanism for calculating property tax and land tax based on the cadastral value, close to the market value of real estate will be introduced for real estate objects of the housing stock (apartments, individual houses, country houses), as well as land plots occupied by these objects.
At the second stage (2022–2024) it will be introduced for individual non-residential real estate objects, as well as land plots occupied by these objects.
Furthermore, land plots allocated for storage of all types of waste and their utilization are excluded from the object of land tax from legal entities, and a single tax rate of 40 soums ($0,0038) per one cubic meter is established for dekhkan farms (personal subsidiary).
In addition, a new version of the Land Code will be developed, which provides for classifiers of types of permitted use of land plots and grounds for termination of rights to them.
Earlier it was reported that the right to set land tax rates (excluding agricultural land) was granted to local government bodies.
The right to set land tax rates on non-agricultural land, depending on their economic development, was granted to the Supreme Council of Karakalpakstan, the Council of people's deputies of regions (except for the city of Tashkent) from 0.5 up to 2 coefficients.
The right to introduce decreasing and increasing coefficients in the amount of 0.7 to 3 to the land tax rates, taking into account the prestige of the region, are received by the Council of people's deputies of districts and cities.
At the same time, the amount of land tax should not exceed the amount of tax charged for 2020 by more than 1.3 times. This will reduce social tension and prevent a sharp increase in the tax burden on individuals.
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