TERMINATION OF REAL ESTATE OWNERSHIP: WHAT ABOUT TAX PAYMENT

According to paragraphs 266.8.1 of the TCU in case of transfer of ownership of a taxable object from one owner to another within a calendar year, the tax is calculated for the previous owner for the period from January 1 of this year to the beginning of the month in which ownership of the said taxable object ceased, and for the new owner – starting from the month in which he acquired the right of ownership. The controlling authority sends a tax notice-decision to the new owner after receiving information about the transfer of ownership (clause 266.8.2 of the Code of Civil Procedure).