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Ukraine Tax Report for Foreign Investors

As of June 2006 the taxation of property in Ukraine is as follow:

  • Currently there are no property taxes in Ukraine. As for the foreseeable future, the issue has just begun to be debated by the Ukrainian Parliament.
  • Real estate taxes have different categories such as for real people (citizens of Ukraine as well as foreign citizens) and corporate entities.

Ukrainian Property Taxes:

Today real people (citizens of Ukraine as well as foreign citizens) and corporate entities pay practically no property taxes. The only "tax" that does exist is a required payment for public utilities, such as sanitation of 12 Hrn per year, about $2.

Corporate entities such as companies and organizations operating in Ukraine do pay some property taxes. But the taxation rate is only 1% of the evaluative cost of land. In the case of leasing land or property there are no taxes due.

As far as future taxation on property, the Ukrainian Parliament is considering a property tax plan with a size exemption for properties less than 104m2 that belong to natural people. Over that limit they are considering a tax rate of 0.5% per square meters above the 104m2 exemption.Corporation do pay taxes on property, but it is listed as a corporate assets and can be taxed through this means.

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Reasons to consider moving to Odessa, Ukraine:

  • Fast growing economy in Europe
  • Europe's second largest country
  • Very low income taxes
  • No real estate taxes
  • Low cost of living
  • Excellent returns of real estate investments
  • Tasty, organically grown foods
  • Warm summer season with beautiful beaches
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