When buying property in Russia, a good tax advisor and general knowledge of the tax system are important in order to make a wise buy
Nonresident individuals are subject to tax on their Russian-sourced income. Married couples are assessed and taxed separately.
Without deduction or exception foreigners pay a flat income tax rate of 30%. which is generally withheld at the source. This goes rental income and capital gains income.
VAT in Russia is currently 18%. VAT is typically levied against the lease of land and commercial property, but residential properties are exempt from VAT. Sales of both land and residential property are also exempt from VAT.
Land tax is levied agaisnt the cadastral value of land at a rate dependent on what the land is used for. Land used for housing, like agricultural land is taxed at a maximum rate of 0.3%, while other types of land can be taxed up to 1.5%. The rate is set by the municipality the land sits in.
Property tax is levied on apartments, garages and other buildings. Rates range from 0.1% to 2.2% depending on the cadastral value of the property. Again the rate is set by the local municipality.
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