On Jan. 24, RUS Tax updated procedure for land shares taxation.
RUS TAX announced that the procedure for taxation of land shares to be improved.
Key Points
The procedure for determining was updated size of shares in the right of ownership of a taxable plot of agricultural land obtained by privatization of agricultural land.
The local government body of the settlement, municipal or urban district at the location of the said land plot is able to convert the size of land shares, into a simple correct fraction in accordance with the procedure provided by Russian legislation.
The results of calculating the size of land shares in a simple correct fraction are approved by a decision of the local government body, which is published within 3 days.
The local government body, after 30 days from the date of publication of the decision, shall ensure that changes are reflected in Unified State Register of Real Estate.
In addition, the accrual of land tax to individuals - owners of the said land shares shall be carried out by the tax authorities with subsequent sending of tax notifications.
Effectiveness
The changes enter into force on Mar. 1, 2025 in accordance with law 316-FZ amending certain regulatory acts of the Russian Federation.
