Taxes - https://propertyguide.lv/en/finance/ As any transactions, Latvian real estate deals involve a number of taxes and fees to be considered. These can be roughly divided into two parts: transaction costs and maintenance costs.
transaction costs capital gains tax notary fee stamp duty maintenance costs real estate tax The notary fee and stamp duty can be considered minor costs that are paid for the particular service on the spot, and do not incur any significant expenses. The capital gains tax, on the contrary, is something to be considered beforehand. In general, it must be paid on any income arising from the transfer of the ownership rights of a property. There is also a number of cases when the tax is not paid, e.g. when the property in question has been used as a primary residence for at least 12 month and has been owned by the same resident for at least 5 years. As the definition suggests, the tax is paid by the seller or the lessor (the one who rent out) of the piece of real estate, and not by the buyer or the tenant.
As for maintenance taxes, in Latvia there is only one to be considered - the real estate tax. It is applicable both for real estate and land, which is why some sources also call it the ‘real property tax’ or just simply ‘property tax’. While it is a single tax, it has a number of brackets and divisions that determine the real tax rate. This is why each property should be considered as a unique case when calculating the real estate tax. As of 2018, the minimum tax rate is 0.2%, and the maximum rate is 1.5% of the cadastral value of a property.
08.09.2024. (12:15)
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Property Guide Latvia
Taxes - https://propertyguide.lv/en/finance/
As any transactions, Latvian real estate deals involve a number of taxes and fees to be considered. These can be roughly divided into two parts: transaction costs and maintenance costs.
transaction costs
capital gains tax
notary fee
stamp duty
maintenance costs
real estate tax
The notary fee and stamp duty can be considered minor costs that are paid for the particular service on the spot, and do not incur any significant expenses. The capital gains tax, on the contrary, is something to be considered beforehand. In general, it must be paid on any income arising from the transfer of the ownership rights of a property. There is also a number of cases when the tax is not paid, e.g. when the property in question has been used as a primary residence for at least 12 month and has been owned by the same resident for at least 5 years. As the definition suggests, the tax is paid by the seller or the lessor (the one who rent out) of the piece of real estate, and not by the buyer or the tenant.
As for maintenance taxes, in Latvia there is only one to be considered - the real estate tax. It is applicable both for real estate and land, which is why some sources also call it the ‘real property tax’ or just simply ‘property tax’. While it is a single tax, it has a number of brackets and divisions that determine the real tax rate. This is why each property should be considered as a unique case when calculating the real estate tax. As of 2018, the minimum tax rate is 0.2%, and the maximum rate is 1.5% of the cadastral value of a property.
08.09.2024. (12:15) - - - - - promjene spremljene- uredi komentar - obriši komentar - prijavi ovaj komentar kao spam - zabrani komentiranje autoru ovog komentara- učitavam...