Buying an apartment: calculating the withholding tax

To continue the previous article about taxes when selling an apartment in a condominium.

Why can the general rate of taxes and fees vary when transferring ownership?

The rates of transfer, special business tax, stamp duty and withholding tax (if the seller is a legal entity) are set as a percentage of the price of the apartment. If the seller is an individual, the withholding tax will be calculated using a complicated formula and will depend on the value of the property and the term of ownership.

Please note that calculations using this formula will be approximate.

To find out the amount of taxes and fees, we recommend you to contact the Land Department right before registering the transaction.

Author: Aleksandra Agapitova

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