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New regulations on calculation of a minimal tax base for personal income tax (PIT) in case of sale of real estate:
DATE: March 30, 2017 | AUTHOR: atlawyers
If an individual sells real estate for a price less than 70% of the cadastral value of such property determined on the January, 1st of the year of sale, PIT is levied on the said 70% of the cadastral value rather than the actual sale price. This rule affects real estate acquired after 01.01.2016.