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Hetmantsev announces exclusion from 'resource' bill proposal to tax VAT on second, subsequent supply of housing

KYIV. Sept 13 (Interfax-Ukraine) – Head of the parliamentary committee on finance, tax and customs policy Danylo Hetmantsev announced for the second reading the exclusion from the "resource" bill No.5600 of the proposal to impose value added tax (VAT) on the second and subsequent housing supplies.

A list of a number of changes developed by the committee for the second reading of the bill was published in the Telegram channel of Hetmantsev on Monday. Today, the committee began consideration of the document.

Thus, it is proposed to maintain the tax at a rate of 18% of net income from the sale of third and more real estate, but not to apply the rate to the sale of inherited property.

According to the amendments, the cost of acquiring an investment asset is equated to its declared value at the time of a one-time declaration. MPs also propose to grant the right to reduce the income from transactions with the third sale of property and transactions with property rights by the amount of the declared value of such assets during the tax amnesty.