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Journal articles on the topic 'Immovable property tax'
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1
Štucere, Sandra, and Gunita Mazūre. "Development of Immovable Property Tax in Latvia." Proceedings of the Latvia University of Agriculture 28, no. 1 (February 6, 2013): 48–59. http://dx.doi.org/10.2478/v10236-012-0015-0.
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Abstract Immovable property tax is one of the national taxes the administration of which is subjected to continuous changes. Frequent amendments to the law “On Immovable Property Tax” (1997) also evidence the mentioned changes. The procedure for tax calculation, tax base, and tax rates has been considerably changed in the course of time. The research provides a discussion on the changes in tax formation, development, and administration in Latvia to understand better the essence of immovable property tax. The research aim was to analyse the development of immovable property tax and the course of reforms for the period of 1998-2012. The research also studies the expected changes in the application of immovable property tax from the year 2013. It is envisaged to transfer the rights to local governments to determine the immovable property tax rates in their administrative territories within the range of 0.2-3% from 2013. The research concludes that frequent reforms of immovable property tax have promoted the development of a new, stable, and predictable methodology for the future application of immovable property tax in Latvia. The analysis of revenues from immovable property tax for the period of 2006-2011 is based on the annually growing significance of immovable property tax. The research suggests that immovable property tax is the only tax the revenues of which have increased within the period of 2009-2011 and the largest revenues from immovable property tax are collected in Riga City municipality comprising 53% of the total revenues from immovable property tax collected in Latvia.
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Peeters, Bart. "Taxation of Immovable Property Income in Belgium." Nieruchomości@ III, no. III (September 30, 2022): 121–39. http://dx.doi.org/10.5604/01.3001.0015.9852.
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For decades, the Belgian personal income tax distinguished between income from foreign and domestic immovable property. Whereas for foreign immovable property the tax base attended to reflect real market values, income from domestic immovable property was determined on a lump sum basis, deducted from a market value of the immovable property in 1975 and subsequently indexed. As the lump sum estimation was substantially lower, the tax base for domestic immovable property income was reduced and hence investing in foreign immovable property was discouraged. Although already a decade ago the European Commission addressed Belgium on this distinction, it still took three convicting judgments of the European Court of Justice, before Belgium changed its legislation. Instead of leaving aside its outdated historical and heavily criticized lump sum estimation of domestic immovable property, the Belgian tax legislator opted to extend this regime and installed a similar historical evaluation for foreign immovable property referring to 1975. The new regime was installed as of tax year 2021. The following article describes the Belgian approach, explains why it was chosen and criticizes remaining issues and difficulties.
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Andrlík, Břetislav, Martina Halamová, and Lucie Formanová. "The Role of Fiscal Decentralization in Municipal Budgets: Case of the Czech Republic." DANUBE 12, no. 1 (March 1, 2021): 61–76. http://dx.doi.org/10.2478/danb-2021-0005.
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Abstract Immovable property tax is one of the key elements of fiscal decentralization in the Czech Republic. It is the only tax that is directed to municipal budgets in the full amount. It is also the only tax the total receipts of which can be influenced by municipalities by means of corrective features. Although the significance of immovable property tax in the process of fiscal decentralization is undeniable, its role in municipal budgets is much discussed. The goal of the article is to evaluate the role of immovable property tax in budgets of Czech municipalities through its impact on the resulting balance of financial management of a particular municipality. The role of immovable property tax is assessed against its importance for the municipal budget. The data concerning financial management of municipalities, the amount of receipts of immovable property tax and the possibilities of utilization of the local coefficient in the year 2019 are analyzed in detail. The results identified by the analysis are compared with the situation in 2012 and it may be stated that although the role of immovable property tax in municipal budgets has decreased if compared with the year 2012, it still represents a significant income of Czech municipalities. At the same time, the current economic situation suggests that the importance of immovable property tax will increase in the years to come.
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Janoušková, Jana, and Šárka Sobotovičová. "Arrears on the tax on immovable property." Český finanční a účetní časopis 2017, no. 1 (March 1, 2017): 41–52. http://dx.doi.org/10.18267/j.cfuc.491.
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Siroky, J., J. Krajcova, and J. Hakalova. "The taxation of agricultural land with the use of multi-criteria analysis." Agricultural Economics (Zemědělská ekonomika) 62, No. 5 (May 27, 2016): 197–204. http://dx.doi.org/10.17221/183/2015-agricecon.
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The issue of land taxation is currently often neglected in scientific articles despite the existence of the land taxation and property taxes in most countries of the European Union. This paper deals with a specific property tax in the Czech Republic – the tax on the acquisition of immovable property. The aim of the paper is, on the one hand, to characterise the tax on the acquisition of immovable property, its general principles and the classification in land taxation, and on the other hand, to analyse the possibilities of a tax entity for the tax base determination and the tax liability calculation. For this purpose, a model example of taxation of the transfer of immovable property for consideration is used, to which the method of the multi-criteria decision-making is applied as an opportunity to use the mathematical methods for the transactional property tax. Based on the method of the multi-criteria analysis of alternatives, it was found that in the model example, it was more advantageous for the tax entity to use the indicative value.
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Radvan, Michal, and Sandra Papavasilevská. "Abolition of Tax on Acquisition of Immovable Property: A Tool to Suppress the Negative Consequences of Covid-19 or a Politicum?" Public Governance, Administration and Finances Law Review 5, no. 2 (2020): 45–57. http://dx.doi.org/10.53116/pgaflr.2020.2.4.
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The tax on acquisition of immovable property was abolished on September 26, 2020 in the Czech Republic. One of the reasons mentioned in the explanatory report to the Act was the statement that the abolition deals with the effects of this virus on society. The main aim of the article is to answer the question of whether the abolition of the tax on acquisition of immovable property is a tool to suppress the negative consequences of Covid-19 or a politicum. To get the answer, it is necessary to shortly describe the tax on acquisition of immovable property and its structural components and make a basic comparison with the other EU Member States. We also summarise the pros and cons of the tax and related findings of the Constitutional Court. As the property transfer tax is connected with the income tax and there were several amendments in the proposal, it is needed to analyse these changes. Based on the research, it is possible to conclude that the abolition of the tax on acquisition of immovable property is definitely not a tool to suppress the negative consequences of Covid-19; it is just a politicum: political parties believe that the abolition of the transfer tax brings them more voices in the elections.
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Andrlík, Břetislav, and Lucie Formanová. "Importance of the Recurrent Tax on Immovable Property in the Tax Systems of EU Countries." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 62, no. 6 (2014): 1213–20. http://dx.doi.org/10.11118/actaun201462061213.
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This paper deals with the issue of the recurrent tax on immovable property and its significance in the tax systems of the EU Member States. The recurrent tax on immovable property is classified as property taxes, also according to the international methodology of the classification of taxes. This tax is imposed on the owners (in some cases on the lessee or user) of the immovable property in the various tax jurisdictions and belong to the taxes that the taxpayer cannot avoid and from this perspective it represents a stable source of income for the public budgets of the modern market economies. This paper discusses the current state of the application of this tax in the tax systems of the Member States with an emphasis on numerical characteristics on the defined timeline. In frame of the analysis of the numerical characteristics there are use the primary sources, which are followed by the interpretation of the calculated results. The theoretical introduction is defining the theoretical basis for the application of this tax in modern tax systems and its conflict with the issue of double taxation.
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Bosman, Alexander. "Redefining the Relation Between Articles 6, 7 and 21 of the OECD Model." Intertax 45, Issue 1 (January 1, 2017): 38–48. http://dx.doi.org/10.54648/taxi2017003.
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The relation between the Articles 6, 7 and 21 of the OECD Model Tax Convention (OECD Model), and in particular the scope of the exception for immovable property in Article 21(2), has been widely debated in academic literature. The approach proposed in this article gives the immovable property exception a proper role, thus defining the relation between the Articles 6, 7 and 21 of the OECD Model in e.g. triangular cases involving immovable property of an enterprise. In the case of immovable property of an enterprise that is situated in the residence state (State R) or in a third state (State T) and that is attributable to a permanent establishment (PE) in the other contracting state (State S), the author takes the view that the ‘context’ within the meaning of Article 3(2) of the R-S tax treaty prevents State S from categorizing the income under Article 7, regardless of its domestic law classification of the income as business profits. This context consists, inter alia, of Article 21(2) of the R-S tax treaty. Consequently, Article 21(1) of the R-S tax treaty must be applied in respect of the income from the immovable property located in State R or in State T, assigning the exclusive taxation right under this treaty to State R. To reinforce the proposed approach, the author recommends adding language to the OECD Commentary on Article 21 which confirms the inapplicability of Article 7 to income from immovable property situated in State R or State T. Regardless of the proposed changes to the OECD Commentary, the author believes that the effectiveness of the exclusion of immovable property from the scope of Article 21(2) could be further improved by amending Article 21 as suggested.
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JANOUŠKOVÁ, Jana, and Šárka SOBOTOVIČOVÁ. "IMMOVABLE PROPERTY TAX IN THE CZECH REPUBLIC AS AN INSTRUMENT OF FISCAL DECENTRALIZATION." Technological and Economic Development of Economy 22, no. 6 (November 23, 2016): 767–82. http://dx.doi.org/10.3846/20294913.2016.1236355.
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The issue of fiscal decentralization is connected with efforts to build a space for own decision-making in municipalities when raising funds. In the framework of fiscal decentralization, municipalities in the Czech Republic have an opportunity to influence immovable property tax revenues. The aim of the research is to find out the municipalities’ attitude towards the possibility of increasing immovable property tax revenues through a coefficient and how this option is used by municipalities. In the article, there is a description of the immovable property tax development in the Czech Republic on the basis of time series. The research relies on the evaluation of secondary statistical data and on the results of primary research focused on the application of the local coefficient. Municipalities have the option to edit tax components and the amount of tax reflects then the specificities and needs of the community. However, almost 92% of municipalities still postpone the introduction of a local coefficient. The motivation for the introduction of local coefficients was an increase in municipalities’ revenues generally or the need to fund specific projects. On the other hand the empirical research showed that some form of compensation is introduced in 46% of the municipalities.
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Radvan, Michal. "Municipal charges on communal waste: do they compete with the immovable property tax?" Journal of Financial Management of Property and Construction 24, no. 2 (August 5, 2019): 148–65. http://dx.doi.org/10.1108/jfmpc-02-2018-0007.
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Purpose The purpose of this paper is to give a recommendation to the municipalities what local tax/taxes sensu largo (a waste charge or an immovable property tax increased by a local coefficient) are to be collected to achieve expected and necessary incomes and limit the administrative costs. Design/methodology/approach To reach the aim, it was necessary to analyze the number of municipalities increasing the property tax by the local coefficient and abolishing the charge on communal waste to save money for the waste charges administration. The evidence of municipalities applying the local coefficient was used as a basis for the research. To get the information on charges on communal waste collected in these municipalities with the local coefficient within the past at least five taxable periods, the information from Monitor was used. If there was any such a significant change, then it was necessary to use the bylaws and to do thorough analysis of the reasons. Findings The hypothesis that a high number of municipalities in the Czech Republic are replacing the charge on communal waste with the local coefficient applicable for the immovable property tax was rejected. In the opinion of the author, the ideal approach is to have just one local tax – immovable property tax. This tax is administered by the state tax office and the revenue should cover the cost of waste management. Adopting only the property tax increased by the local coefficient, it is necessary to explain the benefits to the taxpayers, that is, locals and voters. Originality/value The research on the given topic was never done in the Czech Republic, as there is no evidence of local charges collected in individual municipalities.
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Makarova, Ksenia Olegovna. "“De facto” single real estate complex as an object of taxation in the context of corporate property tax of." Налоги и налогообложение, no. 1 (January 2021): 112–17. http://dx.doi.org/10.7256/2454-065x.2021.1.34707.
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The problem of qualification of property became urgent in 2019, when corporate property tax was levied on movable property. Tax authorities began to reclassify movable property into immovable property, using the terms and constructions of civil legislation. This article examines such legal constructs as a single real estate complex, and its impact upon taxation of corporate property. Special attention given to the following questions: 1. What objects can be incorporated into a single real estate complex? 2. Whether the range of objects united by a single technological network can be recognized as a single real estate complex, if the right to ownership is not registered as for a single immovable object in the uniform state register? Based on the analysis of the actual arbitration cases, it is concluded that the concept of a single real estate complex was completely revised by the tax authorities, and then by the courts, violating the goals pursued by the legislator, who tried to encourage corporations to renovate fixed assets, intentionally excluding movable property as the object of taxation in the context of corporate property tax. The author concludes that the interpretation of the terms of civil legislation proposed by tax authorities and established in case law led to unfeasibility of the goals set for the legislator, as well as to violation of the fundamental tax principles.
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Felis, Paweł, and Grzegorz Otczyk. "Zróżnicowanie fiskalnych skutków gminnej polityki podatkowej w Polsce." Studia BAS 1, no. 65 (2021): 77–102. http://dx.doi.org/10.31268/studiabas.2021.06.
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The article explores the subject of diversification of local tax policy and its fiscal consequences in Poland in 2007–2019. It focuses on various types of municipalities and tax governance tools they use (establishing tax rates, applying tax exemptions and non-statutory reliefs). The analysed taxes include immovable property taxes (property tax, agricultural tax) and movable property ones (tax on means of transport). Theoretical and empirical analyses confirmed the hypotheses. Polish municipalities utilize tax governance tools on a small scale and their taxation policies differ depending on the category of local tax and the type of municipality.
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Scandone, Francesco Saverio. "The Interaction between Business Profits and Income from Immovable Property under Tax Treaties: Is It All about Definitions?" Intertax 37, Issue 4 (April 1, 2009): 223–34. http://dx.doi.org/10.54648/taxi2009023.
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This article deals with the interaction between the taxation of business profits and income from immovable property under tax treaties, by analyzing the overlap between Articles 7 and 21 of the OECD (Organization for Economic Co–operation and Development) Model Convention in situations not covered by Article 6.1 where the income from immovable property is attributable to a PE in the other contracting state. Different approaches have been suggested by legal scholars to solve this issue; however, the Author envisages a new approach mainly based on the existence, in Article 6.3, of a treaty definition of income from immovable property which limits the definition of the term ‘business profits’ under treaty purposes. This subject has been selected for the last IFA Poster Programme 2008 at the Brussels Congress.
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Oliviero, Tommaso, Agnese Sacchi, Annalisa Scognamiglio, and Alberto Zazzaro. "House prices and immovable property tax: Evidence from OECD countries." Metroeconomica 70, no. 4 (March 29, 2019): 776–92. http://dx.doi.org/10.1111/meca.12253.
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Grigorov, Kirill N. "Legal Characteristics of Restriction of the Object of Taxation in Terms of Corporate Property Tax to Real Estate." Financial law 11 (November 12, 2020): 14–19. http://dx.doi.org/10.18572/1813-1220-2020-11-14-19.
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Over the past few years the elements of the legal structure of the Corporate Property Tax have undergone various changes. To a large extent this applies to the object of taxation for the above tax. Special attention should be paid to the change related to the restriction of the object of taxation for the Corporate Property Tax only to immovable property. The author analyzes the essence of this change, considers a number of problems related to this change, and explores possible solutions to such problems.
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Tadić, Milan. "Economic Effects Real Estate Tax." ECONOMICS 4, no. 1 (June 1, 2016): 137–50. http://dx.doi.org/10.1515/eoik-2015-0021.
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Summary The real estate tax is usually a fiscal instrument which performs the property tax. When it comes to real property or immovable this term include: apartments, houses, land, cottages, excess housing landscape and more. The real estate tax as a form of the fiscal charges ownership or use of certain forms of real estate, and the revenue from this tax is levied on the area where the property is located regardless of the place of residence of its owner. The tax base for the calculation of this tax usually consists of the market, estimated or annuity value of certain real estate. This form of taxation in the Republic of Serbian applies from 1.1.2012., and its introduction has been replaced by former property taxes. The differences between the two concepts mentioned taxes are numerous and significant. Among the more important are: subject to taxation under the new concept of the real estate rather than law, a taxpayer is any property owner rather than the holder of rights to immovable property tax base is the market value of real estate which is replaced by the payment of taxes per square meter of usable area, the rate of property tax is determined local government, which can not be lower than 0.05% of the estimated value of the real estate nor higher than 0.5% of the appraised value of real estate. The last change, ie. The new law on Property Tax from 5.11.2015. was determined by the tax rate to 20%. The fact that local governments each of them determines the tax rate on real estate which range from high to low rates of multiple, makes this tax is progressive. Progression is particularly expressed in the distinction applied tax rates of developed and undeveloped municipalities, where we have a case that less developed tolerate a higher tax burden, which leads to negative economic effects. However, real estate tax has its own economic and social characteristics which must be aligned with the objectives of tax policy. This means that the real estate tax should be considered from the standpoint of the entire tax system and not from the standpoint of individual income tax forms.
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Papavasilevská, Sandra. "Modified Area-based System in Czech Republic." Financial Law Review, no. 25 (1) (March 31, 2022): 197–206. http://dx.doi.org/10.4467/22996834flr.22.012.15662.
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Tax system in the Czech Republic and offers some specific suggestions for reform. In the long term, their taxation could be maintained. Many politicians not only in the Czech Republic believe that a higher property tax on real estate investments can solve the housing crisis. There are several examples showing that such a solution does not lead to the desired result. In many states, such a tax increase solved a certain "housing crisis". Such a solution is at all sensible and will ultimately not only disadvantage economically the socially weaker, who do not have the resources to get their own place. On the other hand, the overall taxation of investment housing could contribute to increasing revenues of municipal budgets without changing the budgetary allocation of taxes. The inclusion of elements of elementary equality and work with so-called local coefficients, possibly combined with the categorisation of immovable property as established in the Land Registry, appears to be a meaningful key to the solution. On the basis of these two groups or categories, differential taxation can be achieved for a wide range of properties without creating room for discussion about what is and is not an investment apartment [OECD 2010]. But there are two weaknesses in dealing with this, namely policy changes, where the increase in the coefficient is unpopular within local authorities, and that it will be quite different in this area. The area-based property tax has been gaining influence in developing and transitional countries around the world. This report first examines how the area-based tax is administered in thirty-eight countries according to statutes. Area-based assessment is more commonly used in rural areas than urban areas, for land than buildings, and with few adjustments. Over half the countries allow some local control [Fischel 2001: 17]. The paper presents an overview of the theoretical and practical experience of both the immovable property taxation forms (area-based and value-based) concerning the different aspects of micro and macroefficiency, equity and the “ability to pay” aspects as well as the fiscal and technical aspects, with the special emphasis on (post)transition economies – new EU members. The EU recommendations in this area, especially concerning the shift of tax burden from (labour) income to property, are pointed out. The comparative analysis of relevant taxation in the EU member countries is presented, pointing out that some of them, which have fulfilled the formal requirement of the recurrent taxes on immovable property introduction, still implement a simpler form – the area-based one. In particular, the article focuses on the definition of the tax system in the Czech Republic, and intentionally on the processing of property taxes. Inheritance, gift and acquisition taxes on immovable property, including their definition and the way in which they are transformed, are mentioned in particular in these property taxes. However, the main objective of the work was to approximate the property tax, in relation to value-based taxation or a modified area-based system. Attention is also focused on defining the pluses and minuses of these taxes, what advantages they are, what advantages they are not, and which of the countries uses which system of taxation. The work seeks to highlight why a system is used within the Czech Republic, including its benefits within the tax system.
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Wołowiec, Tomasz. "LEGAL AND ECONOMIC ASPECTS OF PROPERTY TAXATION IN THE EUROPEAN UNION." International Journal of Legal Studies ( IJOLS ) 1, no. 3 (June 30, 2018): 231–78. http://dx.doi.org/10.5604/01.3001.0012.2179.
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A property tax (or millage tax) is a levy on real estate that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the real estate property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible property. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Real estate properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial and vacant real property. In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments.
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Široký, Jan, Danuše Nerudová, and Veronika Dvořáková. "The Quantification of the Significance of EATR Determinants: Evidence for EU Countries." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 65, no. 2 (2017): 501–10. http://dx.doi.org/10.11118/actaun201765020501.
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At present, corporate tax is applied in all EU Member States with the exception of Estonia. Nevertheless, the nominal corporate tax rate does not reflect the real tax burden. For determination of the effective tax burden for corporations, there are used effective corporate tax rates. The aim of the paper is to quantify the relation between the effective average corporate tax rate and nominal corporate tax rates, depreciations, loss compensation and selected investment incentives and to identify the significance of these factors based on the panel analysis. Based on the panel analysis it was found that effective average tax rate is only statistically dependant on nominal corporate tax rate, on tax loss compensation and on the depreciation tax rate of movable property, while in case of other factors, such as depreciation of immovable property, tax holidays and R&D incentives, the dependence is not statistically significant.
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Formanová, Lucie, Martina Halamová, and Břetislav Andrlík. "Utilization of a Local Coefficient for Immovable Property Tax in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 68, no. 6 (2020): 973–86. http://dx.doi.org/10.11118/actaun202068060973.
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The paper deals with the issue of using a local coefficient as a tool to increase tax revenues of local government budgets in the Czech Republic. The local coefficient is defined as a corrective element increasing up to five times the immovable property tax that is 100% public budgets of local governments (municipalities) since 2009. As part of the paper, our own questionnaire survey was conducted across municipalities in the Czech Republic with the aim of identifying positive and negative consequences of application or non-application of this tax instrument at the level of local governments. Results of the research clearly demonstrate the use of the local coefficient, despite its potential high budget revenue is not high at all. In 2020, only 10.43% municipalities from all over the Czech Republic applied it. A research survey conducted among municipalities focused on obtaining information on the reasons for the low use of the local coefficient. To this end, two research questions were formulated “Do municipalities have sufficient information on local coefficient issues?” and “May the introduction of a local coefficient result in a loss in the communal elections?” The questionnaire survey showed that 91% municipalities know about their possibility to apply a local coefficient, but do not use it. Moreover, it was found that if the local coefficient is introduced at the right time or handling additional tax revenues of the municipality is transparent, its introduction does not affect the election result of the political party that declared it by a generally valid decree.
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Żywicka, Agnieszka, and Tomasz Wołowiec. "LEGAL AND THEORETICAL ASPECTS OF PROPERTY TAXES." Review of European and Comparative Law 2627, no. 34 (December 31, 2016): 195–222. http://dx.doi.org/10.31743/recl.5076.
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A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible prop-erty. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residen-tial, commercial, industrial and vacant real property. A special assessment tax is sometimes confused with property tax. These are two distinct forms of taxation: one (ad valorem tax) relies upon the fair market value of the property being taxed for justification, and the other (special assessment) relies upon a special enhance-ment called a “benefit” for its justification
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Wołowiec, Tomasz. "THE CONCEPT OF REAL ESTATE TAXATION BASED ON THE AD VALOREM PRINCIPLE." International Journal of New Economics and Social Sciences 8, no. 2 (December 30, 2018): 114–17. http://dx.doi.org/10.5604/01.3001.0012.9929.
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A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible property. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial and vacant real property. In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments. A special assessment tax is sometimes confused with property tax. These are two distinct forms of taxation: one (ad valorem tax) relies upon the fair market value of the property being taxed for justification, and the other (special assessment) relies upon a special enhancement called a "benefit" for its justification.
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Elezi, Shiret. "Property Tax in Transition countries: The Case of the Republic of Macedonia from 2006-2015." European Scientific Journal, ESJ 12, no. 28 (October 31, 2016): 344. http://dx.doi.org/10.19044/esj.2016.v12n28p344.
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Municipalities to develop their policies use Local taxes, fees and charges for empower of these potential sources of revenue: local tax autonomy makes collection more efficient and enables municipalities to introduce their own measures of social policy. These sources of income also increase the responsibility of local authorities: Among the various fees, charges and income tax, property tax has become an important source of funding for local costs. In most cases, the various taxes on immovable property- together with other forms of taxes property- established in the new fiscal framework of modern local governments. The fiscal autonomy of local governments is largely defined by the volume of their own sources of income. Own revenue sources limit the dependence of municipalities from intergovernmental transfers and revenues that the municipalities receive from the national budget. I will try to explain hanges made from the decentralization process in Macedonia throught ten years of starting implementation of the decentralization on property tax collection.
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Çağdaş, V., A. Kara, P. van Oosterom, C. Lemmen, Ü. Işıkdağ, R. Kathmann, and E. Stubkjær. "AN INITIAL DESIGN OF ISO 19152:2012 LADM BASED VALUATION AND TAXATION DATA MODEL." ISPRS Annals of Photogrammetry, Remote Sensing and Spatial Information Sciences IV-2/W1 (October 5, 2016): 145–54. http://dx.doi.org/10.5194/isprs-annals-iv-2-w1-145-2016.
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A fiscal registry or database is supposed to record geometric, legal, physical, economic, and environmental characteristics in relation to property units, which are subject to immovable property valuation and taxation. Apart from procedural standards, there is no internationally accepted data standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM – Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module is designed to facilitate all stages of immovable property taxation, namely the identification of properties and taxpayers, assessment of properties through single or mass appraisal procedures, automatic generation of sales statistics, and the management of tax collection, dealing with arrears and appeals. It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies.
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Di Porto, Edoardo, Tommaso Oliviero, and Annalisa Tirozzi. "The economic effects of immovable property taxation: A review of the Italian experience." ECONOMIA PUBBLICA, no. 1 (March 2021): 25–43. http://dx.doi.org/10.3280/ep2021-001002.
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In this paper we review the results in the empirical literature on the effects of immovable property taxation reforms occurred in Italy in the last decades. We preliminary resume the recent history of property taxation reforms and discuss why Italy represents a good experimental laboratory to identify their effects on economic outcomes. We then review the empirical contributions regarding the impact of the ICI, introduced in 1993, and of the IMU, introduced in 2012, on local firms' investments, property values and households' consumption. We finally resume the findings related to the political economy of residential property taxation with respect to the incentives of local authorities, tax avoidance and voters' reaction
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Tatarov, Konstantin. "Taxation of Alternative Energy Facilities." Auditor 6, no. 2 (March 12, 2020): 38–42. http://dx.doi.org/10.12737/1998-0701-2020-38-42.
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Alternative energy begins to enter into economic activity, being a factor in reducing costs. The multivariance of the forms of its existence gives rise to differences in the formation of the initial cost, depreciation and calculation of residual value. With various options, it is possible to consider objects as movable or immovable property. The article proposes a methodology for calculating property tax of organizations depending on the purpose, type and installation of the object.
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Skrzypek - Ahmed, Sylwia, and Tomasz Wołowiec. "THE CONCEPT OF REAL ESTATE TAXATION BASED ON THE AD VALOREM PRINCIPLE." International Journal of Legal Studies ( IJOLS ) 9, no. 1 (June 30, 2021): 225–49. http://dx.doi.org/10.5604/01.3001.0015.0437.
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The purpose of this paper is to evaluate the pros and cons of ad valorem real estate taxation in the context of the reform of the Polish real estate taxation system. A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This contrasts with a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible proper-ty. Real property (also called real estate or realty) means the combination of land and im-provements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real proper-ty is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial, and vacant real proper-ty. In Israel, for example, property tax rates are double for vacant apartments versus occu-pied apartments.
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Sanghavi, Dhruv. "The Interaction of Articles 6, 7 and 21 of the 2014 OECD Model Tax Convention: A Historical Analysis." Intertax 44, Issue 8/9 (August 1, 2016): 651–56. http://dx.doi.org/10.54648/taxi2016053.
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The discussion regarding the interaction between Article 6 (Income from Immovable Property), Article 7 (Business Profits) and Article 21 (Other Income) of the OECD Model is not new. However, the historical documents of the Organisation for European Economic Co-operation and the Organisation for Economic Co-operation and Development, which have now been made available, throw new light on the issue. It has been argued that Article 6(4), and not Article 7(4), governs the relationship between Articles 6 and 7, therefore excluding the possibility of applying Article 7 to any income from immovable property. Therefore, it is argued, that Article 21 is the only correct distributive rule to apply in cases where the bilateral scope of Article 6 is not satisfied. This article traces the evolution of Article 6, as evidenced by the historical documents, which reveals a different intention underlying Article 6(4).
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Vylkova, E. S. "Improving the Property Taxation in the Russian Federation." Economics, taxes & law 12, no. 1 (March 12, 2019): 127–35. http://dx.doi.org/10.26794/1999-849x-2019-12-1-127-135.
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In their search for new ways of recharging budget revenues, foreign countries repeatedly implement tax reforms including the area of property taxation.The subject of the researchis the state of property taxation in the Russian Federation and abroad.The purposes of the researchwere to study the trends in property tax reforms in the world and the Russian Federation; systematize the OECD experience in reforming property taxation; compare the Russian innovations in the field of corporate property taxation with the trends existing in OECD countries; assess of the adequacy of corporate property tax reforms carried out in Russia in recent years, and propose property tax innovations with account for advanced foreign experience based on OECD data, foreign and domestic publications. The share of property taxes in the Russian GDP is lower compared to the OECD average although it is higher than in the countries with the lowest value of this indicator, which means that the above shares can be increased as shown by a comprehensive analysis of both taxation practices in foreign countries and the socio-economic situation in Russia.It is concludedthat Russian innovations in the field of property taxation generally conform to the world trends both in terms of tax rates and the tax base formation procedure. The paper outlines the most significant areas of the property tax reform comprising a clear legislative distinction between movable and immovable property, reasoned definition of the real estate cadastral value taking into account the developments in the foreign and domestic economic literature on this issue.
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Yiallourou, Kyriaki. "Case Law Note: CJEU: Developments on VAT Exemptions in 2019." Intertax 48, Issue 6/7 (June 1, 2020): 678–86. http://dx.doi.org/10.54648/taxi2020060.
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This article presents a comprehensive overview of the recent case-law developments on value-added tax (hereinafter VAT) exemptions delivered by the Court of Justice in the European Union (hereinafter CJEU). During 2019, the CJEU was asked in a series of eight cases to interpret the exemptions established under Articles 132 and 135 of the VAT Directive. Three cases examine the VAT exemption on financial services whilst two cases address the immovable property exemption. The remaining cases inspect the VAT exemptions for the supply of medical care services, postal services, and the provision of services by autonomous groups of people to their members. This article summarizes the eight judgments rendered by the CJEU and analyses their potential impact on the European Union VAT framework. VAT, VAT exemptions, CJEU, financial services, immovable property, merit exemptions, case-law.
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Pita, Lejla Lazović, and Amina Močević. "Analysis of Taxation of Property in Bosnia and Herzegovina." Central European Public Administration Review 16, no. 2 (November 20, 2018): 157–78. http://dx.doi.org/10.17573/cepar.2018.2.08.
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The purpose of this paper is fill in the literature gap and to analyse taxation of property in Bosnia and Herzegovina (BIH). By using IMF and OECD methodology defined under taxes on property, our research tries to compare taxes on property in two BIH entities to the international practice. The results are twofold: firstly, inconsistencies to international classification of taxes on property in BIH are identified and secondly, the taxation of property differs in two BIH entities (RS and FBIH). We find that three different types of property taxes are applied –tax on immovable property in RS and real estate transfer tax and so called tax on property in FBIH. We also find that identified differences have an effect on the size and share of revenues from property taxes in both entities which affect local communities and their revenues. Hence, we focus on property taxes in FBIH since they are under cantonal jurisdiction. The research shows that most revenues from property taxes in FBIH are collected in Sarajevo Canton. In fact, most property tax revenues in Sarajevo Canton come from real estate transfer tax revenues and are collected in four municipalities forming the City of Sarajevo. Bearing in mind lack of reliable long term data in both BIH entities related to taxation of property, we conclude with a few policy recommendations and suggestions for future FBIH property related reforms which should in turn simplify the process of property taxation in FBIH and improve the position of local communities in FBIH.
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Bótor, Tímea. "Примечания к письменному наследству московского великого князя Ивана Данило Калиты (начало XIV века)." Specimina Nova Pars Prima Sectio Medaevalis 5 (May 17, 2022): 73–97. http://dx.doi.org/10.15170/spmnnv.2009.05.05.
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In the first third of the fourteenth century a new type of document appeared in Muscovite Rus': the testamentary will. Examining the documents, we can follow the development of ownership relations, the operation of the grand princely court, and the division of movable and immovable property, tax revenues, personal property, jewellery, and valuable clothing items. The testamentary wills provide information conceming the history of 'Kalitovič' family, giving us insights into the events preceding the birth of the Russian state and the development of its institutions.
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Hrubá Smržová, Petra. "Real Estate Acquisition Tax versus Real Estate Transfer Tax in the Czech Republic. Past or Future?" Review of European and Comparative Law 50, no. 3 (September 9, 2022): 145–61. http://dx.doi.org/10.31743/recl.13953.
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The real estate acquisition tax as a property transfer tax was part of the system of taxation of the Czech Republic until 25 September 2020.1 It was a traditional historical tax forming a complementary element of the system of taxation. Since 1993, it was part of the system of taxation as a real estate transfer tax. As of 1 January 2014, due to the recodification of private law, extensive tax reform came into effect, the scope of which was unprecedented since the 1990s. As a result, a new tax was introduced by the Statutory Measure of the Senate No. 340/2013 Coll., namely the real estate acquisition tax, which replaced the former real estate transfer tax. The new tax regulation preserved the taxation of real estate transfers upon payment in the form of the acquisition of immovable property, reflecting the changes brought about by the recodification of private law and by the new Business Corporations Act. It redefined the taxpayer entity, reduced the administrative complexity of tax administration, including cases of mandatory submission of expert reports for the purpose of determining the tax base, and updated the cases of exemption from the real estate acquisition tax.
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Maličká, Lenka. "The Role of Immovable Property Taxes in the EU Countries – Taxes on Land, Buildings and Other Structure in Sub‑national Tax Revenues under the Conditions of Tax Decentralization." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 65, no. 4 (2017): 1383–92. http://dx.doi.org/10.11118/actaun201765041383.
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The literature concerned in fiscal federalism and fiscal decentralization promotes the sub‑national responsibility for sub‑national resources and spending. In this paper sub‑national tax revenues are compared to total tax revenues expressing the tax decentralization for the sample of EU 28 countries. Beside it, the main part of sub‑national taxes, the immovable property tax – tax on land building or other structure, is compared to total sub‑national tax revenues. Using the GMM system estimation determinants of sub‑national tax revenues, real estate tax revenues and tax decentralization are investigated on the sample of EU countries. Results show the significant negative relation between GDP per capita growth, population density and inflation rate and all variables in question. In the case of sub‑national government real estate tax revenues the positive relation with public debt is observed.
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Prots, Vasyl. "Features of property taxes and their role in the formation of local budget revenues." Socio-Economic Problems of the Modern Period of Ukraine, no. 1(135) (2019): 66–70. http://dx.doi.org/10.36818/2071-4653-2019-1-12.
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The extension of powers and functions of local self-government bodies in the context of financial decentralization should be accompanied by an appropriate increase of local taxes and fees to local budgets. Currently, property tax is a new element of the local taxation system and a financial tool for local governments. Since the property tax system is at an early stage in its development, there are a number of debatable issues, in particular, it is really necessary to assess the current system of property taxation in Ukraine, to investigate the fiscal role of property taxes and to outline directions for its improvement. The paper argues that in contrast to Ukraine, property taxes in many countries include the taxes on certain types of property, on net assets, on transfer of property ownership. The author proves that the taxation of property is based on the following principles: equivalence; solvency and equity; fiscal efficiency and financial capacity; security; performance. The analysis shows that since 2015, due to increased tax revenues, local taxes and fees have become the second largest source of local budgets. In 2015-2017 the largest share in the structure of property tax was paid for land 90-93%, the tax on real estate, other than land plot 4,6-8,3%, transport tax 0,8-2,7%. However, the greatest increase of revenues to local budgets accounted for the tax on real estate. The main factors of the growth of property tax since 2015 are due to the inclusion of land and transport taxes to property tax and the introduction of new ratios of indexation of normative monetary estimates for calculating land payments. The shortcomings of the system of property taxation are identified, namely: the level of urbanization of the territory where the object of taxation is located is not taken into account; the existing approach to taxing the area of immovable property, different from the land, does not take into account the degree of its physical depreciation; non-compliance with the principle of social equality and the imperfect mechanism of taxation of non-residential real estate of economic entities and individuals. The paper suggests to include irregular taxes into property taxes, that is, taxes on transfer of property: inheritance tax; gift tax. To determine the amount of real estate tax and land tax, the rates should be set as a percentage of the market value of the tax object, in order to simplify the process of taxes administering.
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BABIN, Igor, and Lyudmila VAKARYUK. "The Tax on Immovable Property, Different from the Land Plot: Theory and Practice of Application." European Journal of Law and Public Administration 5, no. 1 (October 20, 2018): 1–11. http://dx.doi.org/10.18662/eljpa/22.
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Kirova, E. A., A. V. Zakharova, and M. A. Dement’eva. "IMPROVING THE TAXATION OF IMMOVABLE PROPERTY OF PHYSICAL PERSONS IN THE RUSSIAN FEDERATION." Vestnik Universiteta, no. 1 (March 23, 2020): 108–13. http://dx.doi.org/10.26425/1816-4277-2020-1-108-113.
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The relevant issues of real estate taxation of individuals in Russia have been considered and proposals has been formulated aimed at developing a land plot taxation and residential real estate of individuals from the standpoint of optimal mix of fiscal and social-regulatory functions of taxes. The purpose of the presented paper is to substantiate the key directions of development of taxation of immovable property of individuals in the Russian Federation, taking into account foreign experience, as well as to develop practical proposals for their implementation. The methods of system approach, analysis and synthesis, as well as abstraction and generalization have been applied. Conclusions have been made about the need to implement the fundamental principles of taxation by establishing a fair assessment of the value of real estate and the uniformity of the distribution of the tax burden of individuals in the taxation of property owned by them.
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Andrlík, Břetislav, and Lucie Formanová. "THE ROLE OF THE TAX ON IMMOVABLE PROPERTY IN THE MUNICIPAL BUDGETS IN THE CZECH REPUBLIC." Acta academica karviniensia 15, no. 2 (June 30, 2015): 5–17. http://dx.doi.org/10.25142/aak.2015.014.
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Zemlyakova, G. L. "FEATURES OF TAXATION OF INCOME FROM THE SALE OF LAND BY INDIVIDUALS FROM A POSITION OF A COMBINATION OF PUBLIC AND PRIVATE INTERESTS." Bulletin of Udmurt University. Series Economics and Law 30, no. 1 (March 2, 2020): 153–58. http://dx.doi.org/10.35634/2412-9593-2020-30-1-153-158.
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The article deals with situations when the taxation of income of citizens with income tax from the sale of land does not fully comply with the principle of maintaining a balance of public and private interests. In particular, these are cases of sale of newly formed land plots, land plots held by citizens on the rights of permanent (unlimited) use or lifelong inheritable possession prior to registration of ownership of them, seizure of land plots or their parts for state or municipal needs. In order to protect private interests and stimulate the turnover of land plots, the author proposes exempting citizens from income tax when selling land plots before the expiration of the minimum term of owning an immovable property in these cases.
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Martins, Alexandra. "VAT Transfer-Pricing Rules: A Portuguese Perspective." Intertax 37, Issue 5 (May 1, 2009): 322–30. http://dx.doi.org/10.54648/taxi2009033.
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This article focuses on the value-added tax (VAT) impact of transfer pricing. Conceived as a consumption tax, generally the economic burden of VAT is only imposed on the end-consumer. Therefore, transfer-pricing decisions between companies or business entrepreneurs do not generate implications from a VAT angle. However, this neutrality principle does not apply to entities carrying on exempt activities. In the exempt sectors, overvaluated or undervaluated transactions may produce the erosion of VAT. The Rationalization Directive (2006/69/EC) constitutes the Community answer to the rising concern of a number of Member States confronted with VAT avoidance practices between related parties, allowing national laws to adopt the objective valuation criterion – the normal market value – although under narrow conditions. Portuguese law recently introduced a VAT transfer-pricing system limited to immovable property operations.
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Kuś, Bartosz. "Opodatkowanie nabycia nieruchomości w drodze działu spadku. Glosa do wyroku Naczelnego Sądu Administracyjnego z dnia 13 października 2015 r. (II FSK 2133/13, LEX nr 1808541)." Studia Iuridica Lublinensia 30, no. 1 (March 31, 2021): 415. http://dx.doi.org/10.17951/sil.2021.30.1.415-427.
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<p>The commented judgement concerns the taxation of acquisition of immovable property by inheritance division. In the applicant’s opinion dissolution of co-ownership is not an acquisition of assets if it is within the share which the former co-owners had in the common property and was carried out without any repayments or surcharges. If the acquisition of one-half of the property occurred upon the death of the testator, but through the subsequent abolition of co-ownership, the applicant acquired nothing more than what he already owned, the abolition of co-ownership does not constitute an acquisition and has no tax consequences. According to the tax authority, this position is incorrect. The applicant acquired half of the share in the property by way of inheritance and division of inheritance and a half share in the property by way of abolition of co-ownership. The administrative courts have held that the tax authority’s position is incorrect. In administrative cases, it may be necessary to use external systemic interpretation and reference by the administrative authorities to the relevant provisions of civil law. In the Supreme Administrative Court’s opinion, point of the dispute in this case is based on the conclusion what date should have been taken as the date of acquisition of the property (interest in the property). Resolution of this issue required a detailed analysis of the provisions of the Civil Code. Although, not all relevant issues have been considered by the Voivodeship Administrative Court, the decision of the court of first instance is in fact lawful. The gloss is approving and declares that the position taken in the judgement of the Supreme Administrative Court is correct.</p>
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Peeters, Bart. "Kieback: When Schumacker Emigrates . . ." EC Tax Review 25, Issue 2 (April 1, 2016): 58–69. http://dx.doi.org/10.54648/ecta2016007.
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When taxing a non-residents income, a source state does not have to grant tax correctives on account of civil status or family responsibilities, applicable for its own residents, unless the income is the almost exclusive taxable income of the non-resident. This socalled Schumacker-principle, although dating from 1995, still raises questions. This article critically analyses the judgment of the Court of Justice in the Kieback-case, where the Court had to decide about its application for the deduction of costs, linked to a foreign immovable property, in case of a non-resident earning all his taxable income during a part of a tax year in the source state and then moving to a third state. The court insisted that the Schumacker-principle can include costs which, according to the tax legislation of the source state, are in particular linked to foreign income, the possibility of discrimination has to be considered exclusively from a tax perspective, but the comparison can be made taking into account an entire tax year. Based on these premises the Court concluded that the foreign negative income did not have to be taken into account in the source state.
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Brzezicki, T., and P. Kornieiev. "Tax on real estate, other than land." Uzhhorod National University Herald. Series: Law, no. 65 (October 25, 2021): 210–14. http://dx.doi.org/10.24144/2307-3322.2021.65.38.
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The study examines the mechanism of real estate taxation. The current state of their functioning in Ukraine is analysed in detail. Problems of legal and regulatory nature are also investigated. The main features that characterize this tax, both in Ukrainian and Polish legislation, are also described. In addition the feasibility of reforming the tax base in the Ukrainian legislation is analyzed. Analyzed the experience of foreign countries, and held a parallel to the functioning of the tax in Poland, as an example, one of Europe’s economically developed countries. This article focuses on tax on immovable property. The introduction of real estate tax in Ukraine has followed a difficult path. The authors emphasize that development, and global development, is not possible without the socio-economic development of the country. In the authors’ view, development must begin in the cities, namely with the effective formation of local budgets. Because the financial resources of the cities have a direct influence on the solution of social and economic problems. The problem of deficiency of financial resources of cities, is a frequent problem on the territory of Ukraine. Therefore, we consider it necessary to pay attention to the European practice of countries that have a rational approach to the redistribution of income, with the help of certain tax rates, or by applying the benefits provided by the legislation. Statistical data shows that property tax has been introduced in about 130 coun-tries, thereby providing a significant part of budget revenues. The study is written using the descriptive method on the basis of administrative court jurisprudence and tax law literature.
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Arzu Mirheydarova, Gulnaz Garayeva, Arzu Mirheydarova, Gulnaz Garayeva. "LEVEL OF BENEFIT FROM FINANCIAL LEASING IN SMES IN THE INDUSTRIAL SECTOR." PIRETC-Proceeding of The International Research Education & Training Centre 21, no. 04 (November 9, 2022): 25–32. http://dx.doi.org/10.36962/piretc21042022-25.
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Financial leasing is the name given to the process that provides the right of use of a movable or immovable property to the lessee within the specified dates in return for a price. This period of use may cover the entire life of the property or a certain part of it. Leasing, which has more than one type, allows businesses not to spend all of their capital on a particular property, but instead to obtain the right to use the property needed at lower amounts. Leasing allows the leasing company to fulfill many of the obligations that would arise when the business purchases the property it needs in advance. Thus, while the enterprise obtains the right to use the property it needs with low amounts, it also avoids complex and costly procedures. The now more common types of leasing began to emerge in the United States in the 1952s, and this new type of financial service grew rapidly in its advantages. The first financial leasing companies in Western Europe were established in the late 1950s and early 1960s. However, the unclear status of leasing transactions in tax and civil legislation prevented development. Only after leasing agreements were reflected in the tax legislation, the rate of development of leasing operations increased, and in the 80s their number was about 40. Since the 60s, leasing operations began to develop in the Asian continent. Currently, the main part of the world market for leasing services is concentrated in the "USA - Western Europe - Japan" triangle. In Western Europe, specialized leasing companies managed by the bank and its subsidiaries act as lessors.
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YURCHENKO, O., and О. SVYRYDA. "The Role of Pricing in Taxation of Business Enterprises." Scientific Bulletin of the National Academy of Statistics, Accounting and Audit, no. 3 (November 1, 2019): 40–53. http://dx.doi.org/10.31767/nasoa.3.2019.04.
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The problem of pricing is elaborated with respect to setting the tax base for calculating tax obligations (taxes and duties) assessed and paid by business enterprises by the general tax system. The role of the regular market price when calculating the tax base for national taxes (profit tax, value added tax, excise tax and tax on incomes of physical persons) is highlighted.
It is shown that valuation of assets (property rights) is the process of estimating their cost on the date of valuation by the established procedure. The valuation can be performed by entities charged with valuation (legal entities, physical persons – entrepreneurs, state power bodies or local power bodies). Subject to valuation are assets (movable and immovable) and property rights (e. g. intellectual property rights, rights for use of nature resources etc.). The cases of obligatory expert valuation of assets are clarified in the course of the study; the valuation phases are substantiated in conformity to the national standards on valuation of assets and property rights.
The notion of transfer pricing, occurring in time of transactions involving residents and non-residents that are subject to control by tax bodies in order to combat minimization of income tax, is defined. Economic transactions with a non-resident counterparty are identified as controlled ones by a payer of profit tax, when their result has no effect for a taxation object. An economic transaction will be identified as a controlled one, when it complies with two criteria set by the Tax Code of Ukraine: cost criterion (the volume of annual income and the volume of transactions with a counterparty) and status criterion (what is non-resident, whether or not it is related with a Ukrainian tax payer, where it is registered, what is its organizational and legal form, whether or not it pays profit tax and by what rate). The controlled transactions are subject to audit for the compliance of their prices with “arm’s length” principles, with the possibility of adjusting a transaction price for purposes of profit taxation in case of noncompliance.
International and national law establishes five main methods for price determination in the controlled transactions. The choice of method and texted party depends on the essence of transaction and the character of its parties’ interactions. The article gives a description of methods for calculating transfer prices used by tax bodies for auditing the correctness of estimated profit tax in the controlled transactions. The authors believe that the top one is the method of comparative non-controlled price, because it can be used when performing transactions on sales of goods with mass-scale demand, for which it is easier to find the data on analogous transactions of other companies on the commodity market and compare the conditions of such economic transactions.
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Khan, Ahmad. "Determinants of Income Tax Base in Pakistan: A Policy Review." Pakistan Development Review 31, no. 4II (December 1, 1992): 1123–42. http://dx.doi.org/10.30541/v31i4iipp.1123-1142.
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This paper is divided into six parts. Following this introduction a reivew of the fiscal policies pursued by the Government of Pakistan is presented in the second section. The third section contains an assessment of the performance of different taxes while the fourth presents the reasons for low revenue performance. The key issues in tax policy reform are discussed in the fIfth section. The final section presents the recommendations for future policy directions. The taxation structure of Pakistan is both Federal and Provincial in nature. This structure was derived from the revenue-sharing provisions of the Government of India Act, 1935 and has been incorporated into successive constitutions delineating the respective revenue powers of the Federal and Provincial Governments. Under the present constitution, the Federal Government has the constitutional right to levy a wide range of direct and indirect taxes [Government of Pakistan (1973)]. Federal direct taxes comprise of personal and corporate income tax (excluding tax on agriculture income), and capital taxes (excluding tax on immovable property). Since the abolition of estate duties and gift taxes, the latter include wealth tax and Capital Value Tax. One time Capital Assets Tax on companies was levied in 1991. Income of small businesses is subject to fixed tax. Minimum tax at the rate of 0.5 percent of turnover applies to Corporate and Registered Firm taxpayers. Presumptive tax regime applies to dividends and interest, prizes on prize bonds, lotteries and raffles, payments for contract execution and supply of goods, and value of imported and exported goods [Government of Pakistan (1991)].
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Uys, W. R., K. L. De Hart, J. S. Wilcocks, and J. MP Venter. "Crossing the Rubicon: Is the use of a realisation company still a viable tax planning tool?" Southern African Business Review 19 (February 12, 2019): 183–205. http://dx.doi.org/10.25159/1998-8125/5796.
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In this article the principles established in the Natal Estates, Berea West and Founders Hill cases read together with the relevant legislation and other related cases are analysed. The aim is to determine whether the interposition of a realisation entity when selling immovable property with the view to protecting the capital nature of receipts in respect of the property, is a viable tax planning tool for the 21st century. The Supreme Court of Appeal in all three cases applied the so-called “crossing the Rubicon” metaphor to determine the point when the realisation of a capital asset transforms into a scheme of profit-making and thus becomes taxable. The decisions in these three cases, if closely analysed, confirm that the courts have provided complimentary rather than conflicting viewpoints on how the “crossing the Rubicon” metaphor is applied in practice. It is concluded from the analysis that a realisation entity should be used only to realise an asset when there are compelling reasons, other than for pure tax planning purposes, for its use. This conclusion is\ reached because current legislation ensures that the appreciation in the value of the asset up to the point of the change in use, from capital to revenue, remains capital in nature and will thus be taxed as a capital gain under the Eighth Schedule of the Income Tax Act. In practice therefore, the use of a realisation entity should be considered only in circumstances where the protection of the capital nature of an asset for purely tax reasons is not the main reason for the interposition of a realisation company or any other intermediary entity, but is set up, for example, to administer a deceased or insolvent estate, or to comply with legislation. Any tax advantage gained in these circumstances can be regarded as an inadvertent consequence and thus there is a possibility that the tax advantages gained will not be regarded as income of a revenue nature.
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Novitasari, Ayu Dwi. "Intervensi Pemerintah Dalam Perjanjian Jual Beli Tanah Dan/Atau Bangunan Melalui PP No 34 Tahun 2016." SAPIENTIA ET VIRTUS 3, no. 1 (March 31, 2018): 85–103. http://dx.doi.org/10.37477/sev.v3i1.179.
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Tax is the largest income for the state, but through Government Regulation no. 34 Year 2016 by lowering the tax for the seller does not necessarily relieve the taxation charge on the sector of sale and purchase of land and / or building, the sale and purchase of land and / or building is an agreement between the parties to buy immovable property (land and / or building ). As a form of freedom of contract can the government restrict and intervene the agreement through its legal products. For that reason, the research is conducted with normative juridical because it aims to know the limits of government to intervene on the sale and purchase agreement of land and/or building through Government Regulation 34 of 2016 which is inconsistent with BPHTB Law and knows the limits of freedom of contract in the land and / or building purchase agreement on Government Regulation no. 34 Year 2016. Because as a form of implementation of the principle of self assessment then the Government serves as a counterweight of freedom of contract if there is a market failure to avoid natural monopoly.
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Magopets, Оlena, and Volodymyr Shalimov. "Budget and Tax Potential in the System of Factors for Ensuring the Sustainable Development of United Territorial Communities." Central Ukrainian Scientific Bulletin. Economic Sciences, no. 7(40) (2021): 93–104. http://dx.doi.org/10.32515/2663-1636.2021.7(40).93-104.
Full textAbstract:
The article substantiates the approaches to determining the sources of the budgetary and tax potential of the united territorial communities, outlining the prospects for its rational formation and implementation, based on the assessment of the resources available in the field of service and/or in the ownership of the territorial communities and based on their fiscal capabilities, as well as the achieved level of efficiency implementation. It has been proven that the source of the budget and tax potential is a set of resources that are in the service sector and/or owned by the territorial communities, have the ability to accumulate within a certain time and under the existing conditions and can be transformed into tax, non-tax and other revenues to the budget of the territorial communities, in accordance with the decisions made by the community and intended to finance the implementation of its own and delegated powers and also solving the task of socio-economic development of the territory. Such territorial community’s resources include: natural resources (primary natural resources, ecosystems); physical resources (integrated property complexes, movable property, immovable property); institutions (enterprises, institutions and organizations that are communally owned by the territorial communities, business entities (individuals, legal entities), business associations, clusters, etc.); human resources and social capital. Based on the analysis and assessment of indicators of local budget revenue generation, it was established that such revenues are generated at the expense of revenues from own sources, the specific weight of which has been growing significantly in recent years, and inter-budget transfers. A fundamental analysis of the components of the revenues of the territorial communities from its own sources, based on the assessment of the resources available in the field n the ownership of the territorial communities, shows that the rate of growth of own revenues of local budgets is inextricably linked with the decentralization of power and the reform of local self-government and the corresponding financial decentralization, which is an effective factor in stimulating local self-government bodies to increase revenues to the budgets of local government on the basis of effective use of available resources, as well as finding reserves to fill them and increasing the efficiency of tax payment administration. During the study, the main problems related to the ineffective management of the resources of territorial communities and leading to a decrease in the budget and tax potential were identified. Measures aimed at solving existing problems are proposed.
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Marits, D., and O. Grachova. "FEATURES OF CONCLUSION OF AN AGREEMENT FOR THE PURCHASE AND SALE OF REAL ESTATE IN THE CONDITIONS OF MARITAL STATE IN UKRAINE." National Technical University of Ukraine Journal. Political science. Sociology. Law, no. 4(56) (December 21, 2022): 56–61. http://dx.doi.org/10.20535/2308-5053.2022.4(56).269614.
Full textAbstract:
The article is devoted to the study of the peculiarities of the operation of the contract of purchase and sale in the conditions of martial law. The general theoretical concept of "sales contract" is considered. Based on the main legal acts of Ukraine, which regulate the activity of this legal document, its main elements are specified: participants, subject and price. It has been established that the issue has a large number of legal doctrines, although there is an interpretation of the content of the contract of sale at the legislative level. During the writing of this article, the understanding of the contract of sale was highlighted both from the theoretical side, in accordance with the scientific literature, and from the practical side – in matters related to the implementation of the consequences of the contract of sale, including relying on the Civil Code of Ukraine. It was found that the main purpose of activity for a natural person-entrepreneur is the implementation of high-quality purchase or sale of a certain product, compliance with the civil rights and obligations of both parties. We emphasize that the main opinions of scientists regarding this thesis were analyzed, taking into account positive and negative aspects. The main properties of entering into civil relations during the conclusion of the contract, which generate consequences in the form of legal confirmation of the document, were determined. In the conditions of a full-scale invasion caused by the aggression of the Russian Federation, the main changes in the implementation of notarial actions regarding real estate have been clarified. It was noted that during the month (from February 2022 to April 2022), the activity of the State Register of Property Rights to immovable property was limited in order to minimize the level of information threats to government websites, in particular, the seizure of the database of Ukrainian citizens by the enemy. It has been found that since April 2022, in places without active hostilities, transactions related to the sale or purchase of immovable property have been resumed with certain legal requirements that must be complied with based on the provisions of the law.Special attention in writing a scientific article is devoted to the basic principles regarding restrictions on the right to buy or sell real estate in the conditions of a full-scale invasion. During the writing of the scientific article, emphasis was placed on customs clearance of the car based on the sales contract. In particular, it is stated that during six months (February 2022-July 2022), the customs clearance of movable property took place without payment of VAT in the form of "zero customs clearance". However, in connection with the adoption of changes to the Tax Code of Ukraine, the tax levy on the purchase of cars was restored. We consider this issue to be debatable, which requires further scientific research. However, the expediency of the adoption of the Petition regarding the cancellation of tax payment to the Armed Forces of Ukraine, other law enforcement and state bodies carrying out the transaction for the good and benefit of the state is indicated.