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Property Tax Applied When Cadastral Value Is Not Determined
If the cadastral value of a property is not determined during the relevant tax period, then the provisions of Article 378.2 of the Tax Code of the Russian Federation shall not apply to this property.
This is according to Ministry of Finance Letter No. 03-05-05-01 / 95999 of February 28, 2019.
The Ministry refers to Paragraph 2 of Article 378.2 of the Tax Code of the Russian Federation, according to which the law of a constituent entity of the Russian Federation establishing the specifics of determining the tax base based on the cadastral value of immovable property objects, can only be adopted after said subject of the Russian Federation approves the cadastral value of immovable property in the prescribed manner. Thus, in accordance with Paragraph 7 of Article 378.2 of the Tax Code of the Russian Federation, the authorized executive authority of a constituent entity of the Russian Federation must determine the list of real estate objects whose tax base is defined by cadastral value for a tax period no later than the 1st of the tax period.
Translated by Alinga Consulting Group.
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