{"id":236540,"date":"2005-10-28T09:16:00","date_gmt":"2005-10-28T09:16:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/10\/28\/real-taxes-will-grow-5895-eng\/"},"modified":"2005-10-28T09:16:00","modified_gmt":"2005-10-28T09:16:00","slug":"real-taxes-will-grow-5895-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/real-taxes-will-grow-5895-eng\/","title":{"rendered":"Real taxes will grow"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The executive analyzed on October 19, 2005 the level of preparation for implementation of the new system for taxation of real estate at real price. According to information provided by the Agency for Land Relations and Cadastre, prices of all apartments and 90 percent of private houses in the Chisinau municipality have been evaluated until now. Available data show that Moldova has 300,000 apartments, 250,000 private houses, 200,000 commercial facilities, and 1.75 million houses in rural area. <\/p>\n

Under provisions of the Fiscal Code, new mechanisms for taxation of real estate, included the non-privatised ones, will be applied starting 2006, on basis of their real market price. The real estate tax is based now on estimated cost of real estate goods when they are built, minus level of use, which is often estimated below 60-80 percent. <\/p>\n

The calculation and collection of real estate taxes rest with local public administration authorities. The tax accounts for maximum 0.5 percent of the taxable share (50 percent of the cost of real estate) and local authorities will be prohibited to establish taxes lower than 0.25 percent of this share. As for example, the taxable share for an apartment with a market price estimated at 20,000 dollars will be 10,000 dollars, while the annual tax (in dependence of share established in the settlement concerned) will be between 25 and 50 dollars. This sum is about 10-fold higher than the amount paid for a 2-room apartment in the Chisinau municipality at present. <\/p>\n

It was earlier remarked that the Government proposes first the taxation of apartment owners, while owners of houses (estimated at hundreds of thousands of dollars in big cities) will be taxed on basis of real price only after a period (1-2 years), when their total re-evaluation will be completed. \/\/ e-journal<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>The executive analyzed on October 19, 2005 the level of preparation for implementation of the new system for taxation of real estate at real price. According to information provided by the Agency for<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-236540","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The executive analyzed on October 19, 2005 the level of preparation for implementation of the new system for taxation of real estate at real price. According to information provided by the Agency for Land Relations and Cadastre, prices of all apartments and 90 percent of private houses in the Chisinau municipality have been evaluated until now. Available data show that Moldova has 300,000 apartments, 250,000 private houses, 200,000 commercial facilities, and 1.75 million houses in rural area. <\/p>\n

Under provisions of the Fiscal Code, new mechanisms for taxation of real estate, included the non-privatised ones, will be applied starting 2006, on basis of their real market price. The real estate tax is based now on estimated cost of real estate goods when they are built, minus level of use, which is often estimated below 60-80 percent. <\/p>\n

The calculation and collection of real estate taxes rest with local public administration authorities. The tax accounts for maximum 0.5 percent of the taxable share (50 percent of the cost of real estate) and local authorities will be prohibited to establish taxes lower than 0.25 percent of this share. As for example, the taxable share for an apartment with a market price estimated at 20,000 dollars will be 10,000 dollars, while the annual tax (in dependence of share established in the settlement concerned) will be between 25 and 50 dollars. This sum is about 10-fold higher than the amount paid for a 2-room apartment in the Chisinau municipality at present. <\/p>\n

It was earlier remarked that the Government proposes first the taxation of apartment owners, while owners of houses (estimated at hundreds of thousands of dollars in big cities) will be taxed on basis of real price only after a period (1-2 years), when their total re-evaluation will be completed. \/\/ e-journal<\/p>\n

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