This amendment exempts land and buildings owned by foundations and non-profit organizations who are providing generally beneficial services from real estate tax.
The exemption does not include land used for business purposes. However, if a building connected to the land is used for public transport and if the scope of the business activity concerned provides public transport, the exemption applies.
In addition, according to the amendment, co-owner is subject to real estate tax if he submits a tax return on the basis of mutual agreement with other co-owners.
The amendment also changes the taxation of private flats and other privately owned space.
The amendment became effective on 11 December 1997.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
For further information contact Mr Frank Walsh on +421 7 5340 545 Email directly on Click Contact Link
