Ukrainians will receive real estate property tax bills by July 1, 2021.
That's according to the latest version of the Tax Code.
Those who own an apartment up to 60 square meters and a house up to 120 square meters are exempt from such tax.
The tax will be billed for the past year.
Read alsoFinance minister: Tax Code to be amended to make 'clever fellows' pay taxes in UkraineEach owner of "extra" square meters of real estate property will receive a bill by July 1.
The tax shall be paid within 60 days after the bill is delivered.
The tax amount will vary depending on locality.
Local governments have the right to set the rate, with the cap set at 1.5% of the minimum wage, that is UAH 62.5 (US$2.24) in 2020 and UAH 70.8 (US$2.54) per square meter in 2021.
Mortgage in Ukraine
- Earlier, Ukrainian President Volodymyr Zelensky promised that mortgage loans would be issued at 10% per annum in Ukraine soon, but the Finance Ministry said certain legislative restrictions related to residence registration prevented the launch of mortgages at 10%.
- On June 2, 2020, the National Bank announced that the launch of mortgages at 10% per annum in Ukraine is possible after quarantine restrictions are lifted. Also, the correct interest rate policy of banks and a number of legal changes are required to this end.
- On June 23, 2020, Ukrainian Prime Minister Denys Shmyhal Shmyhal said the Cabinet's goal is to reduce the mortgage rate to 7%, or even 5%.
- On July 22, 2020, Shmyhal said he considered it realistic to reduce mortgage rate to 10%.
- On August 11, 2020, Zelensky said that the promised mortgage at 10% per annum was already in effect.
- On December 28, 2020, the Finance Ministry created PJSC Ukrainian Financial Housing Company to develop and implement an affordable mortgage mechanism.