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Are buildings constructed for sale not subject to property tax?
Are buildings constructed for sale not subject to property tax?
We inform you that according to Article 197.1.3 of the Tax Code, fixed assets on the balance sheet of enterprises and individual entrepreneurs (excluding the assets specified in Article 197.1.1 of this Code) are subject to property taxation.
According to Article 13.2.17 of the Tax Code, fixed assets are tangible assets with a useful life of more than one year and a value exceeding 500 manats, which must be depreciated in accordance with Article 114 of this Code.
Please note that buildings constructed by persons engaged in construction for the purpose of sale are not depreciated, as they are not considered fixed assets.
We inform you that buildings constructed for sale are not subject to property taxation.
We inform you that according to Article 197.1.3 of the Tax Code, fixed assets on the balance sheet of enterprises and individual entrepreneurs (excluding the assets specified in Article 197.1.1 of this Code) are subject to property taxation.
According to Article 13.2.17 of the Tax Code, fixed assets are tangible assets with a useful life of more than one year and a value exceeding 500 manats, which must be depreciated in accordance with Article 114 of this Code.
Please note that buildings constructed by persons engaged in construction for the purpose of sale are not depreciated, as they are not considered fixed assets.
We inform you that buildings constructed for sale are not subject to property taxation.