The process of real estate transfer is gradually being simplified with the abolition of certificates and the gradual activation of electronic systems by the Ministry of Digital Governance. The tax authorities have just abolished the inheritance tax delinquency certificate when purchasing real estate. Tax offices have already been instructed not to issue tax certificates for gifts, inheritances or parental benefits in certain cases, reducing red tape in real estate transfers. The tax authorities also notified tax offices and oversight bodies when the state’s right to tax inheritances, donations, parental allowances, etc., expires.
A series of changes are expected to the way property owners are taxed starting in early 2024, most of which are focused on increasing convenience for the public. Interventions that change the map of the short-term rental market are also imminent.
The changes implemented are aimed at making the process of transferring or acquiring real estate easier for taxpayers, significantly reducing the time required for it and the amount of supporting documents required. To improve tax fairness, attempts are being made to equate these properties with hotels wherever possible, particularly in the case of short-term rentals.
Therefore, a person who operates two or more properties is treated as an entrepreneur by the tax office and therefore has to follow a certain roadmap.
[AMNA]