Revenues to local budgets from the collection of real estate tax in 2013 could reach some UAH 75 million, the Income and Tax Ministry has projected.

The press service of the ministry reported last week that at present there are 28 million housing facilities in Ukraine on which the real estate tax is imposed.

"By July 1, 2013, the owners of the housing facilities that are to be taxed will obtain tax demands for the sum of the tax, and payment details. If the taxpayer does not agree with the calculations of the tax body, he has the right to apply to the tax body for data reconciliation," reads the report.

As reported, from January 1, 2013, Article 265 of the Tax Code of Ukraine took effect, according to which tax on property other than land plots is introduced.

Amendments to the Tax Code were made by law No. 4834 of May 24, 2012, which took effect on July 1, 2012. This is linked to the fact that the taxation base for immovable property is calculated on the basis of data from the state register of ownership rights to property, which, under the law on amendments to some Ukrainian laws on the ensuring of the realization of rights to immovable property during state registration, is introduced from January 1, 2013.

The payers of the real estate tax are the individual owners of housing facilities and companies that are registered in Ukraine and that operate under Ukrainian law.

Taxmen in early December 2012 said that the tax would not be paid on apartments with a gross area of up to 120 square meters, houses with gross area of up to 250 square meters, garden houses or dachas, property belonged to families with many children and foster families with three and more children.

According to the requirements of the Tax Code of Ukraine, tax rates are set by local councils.

For example, in Kyiv, the tax rate per square meter is defined in decision of Kyiv City Council No. 242/5629 of June 23, 2011 as:

1% of the minimum wage set as of January 1 of the reporting year for apartments that have a gross area that does not exceed 240 square meters and houses which gross area does not exceed 500 square meters;

2.7% of the minimum wage set as of January 1 of the reporting year for apartments that have a gross area that exceeds240 square meters and houses that have a gross area that exceeds 500 square meters.

The tax is paid to the state tax body. The terms of payment for individuals is 60 days from the moment of obtaining notification from the tax body, while for companies it is paid in advance payments every quarter before the 30th day of the month following the reporting quarter.