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Real estate tax may be paid in installments

Real estate tax may be paid in installments

Real estate tax shall be paid by physical and legal entities, director of the Incomes and Fees Ministry physical entities taxation department Vyacheslav Busarev told a press conference, ForUm correspondent reports.

"The tax deals with housing, including houses, premises to them, mansions, cottages, apartments, rooms in multi-family apartments. A number of benefits is provided for the individuals: the new tax will not cover apartments and houses with the area, less than 120 square meters and 250 square meters respectively. However, if a person has several residential properties, the rebate will apply to only to one of them," the official said.

According to him, the tax shall be paid once a year. Prior to July 1, 2013, individuals-payers will receive tax notices, decisions on the amount of tax and payment information. In case of disagreement with the tax calculation, a payer has the right to apply for verification.

“Tax shall be paid on a quarterly basis by the 30th of the first month of the following quarter. Legal persons will assess the amount of tax as of January 1 of the year on their own and submit a declaration to tax authorities before February 1,” the expert concluded.

In addition, the real estate tax can be paid in installments.

As a reminder, since January 1, 2012, real estate tax has come into force.