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Clarification has been provided regarding the reduction of the rental tax rate
Clarification has been provided regarding the reduction of the rental tax rate
The tax rate on income from renting out residential properties owned by individuals (excluding accommodation facilities located in hotels and hotel-type establishments) will be reduced from 14% to 10%.
This was announced by Nicat Imanov, Head of the Tax Policy Department of the State Tax Service, during discussions of proposed amendments to the Tax Code at a meeting of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship.
“Two measures are being introduced in the rental market. First, some citizens do not wish to register as taxpayers but still want to pay taxes on their rental income. The law will allow them to appoint agents to handle their tax obligations. The second step concerns the reduction of the tax rate on rental income — from 14% to 10%. This proposal aims to stimulate the rental market.”
The tax rate on income from renting out residential properties owned by individuals (excluding accommodation facilities located in hotels and hotel-type establishments) will be reduced from 14% to 10%.
This was announced by Nicat Imanov, Head of the Tax Policy Department of the State Tax Service, during discussions of proposed amendments to the Tax Code at a meeting of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship.
“Two measures are being introduced in the rental market. First, some citizens do not wish to register as taxpayers but still want to pay taxes on their rental income. The law will allow them to appoint agents to handle their tax obligations. The second step concerns the reduction of the tax rate on rental income — from 14% to 10%. This proposal aims to stimulate the rental market.”