Reduction of the Taxation on Real Estate

On the 14th of July 2016, the Parliament, passed by majority a bill, which provides that the imposed taxation on real estate for the year 2016 will be 25% of the taxable amount resulting from the applicable tax rates on the value of the real estate as on the 1st of January 1980. That means that, the citizens, should pay 25% of the tax they’ve paid last year. The discount, however, at the rate of 75%, applies only under the condition that the taxpayer will pay the real estate’s tax at the rate of 25%, until the 31st of October...

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