Property transfer tax

When buying real estate, the buyer must pay property transfer tax calculated as 5% of the agreed purchasing price. When the real estate that is being sold is a new real estate owned by a company (legal person), property transfer tax is calculated as 5% of the price of land and communal contribution (if the seller of the new real estate is a natural person, property transfer tax is still calculated as 5% of the agreed purchasing price).

Tax liability occurs at the time when the Sales Agreement is executed (signed and verified by Notary Public). The buyer is responsible for submitting the tax application for the property transfer tax to the competent Tax Administration Office, within 30 days of having entered into the Sales Agreement for the purchase of the real estate. After the application is submitted, the Tax Administration Office shall determine the exact amount of tax to be paid and issue a Decision stating all details necessary for payment. The taxpayer must pay tax within 15 days of receiving the Decision.

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