2024-09-20 11:34:31
The government has adopted a decision on “Considering the transactions of alienation of apartments and non-residential areas of multi-apartment or subdivision buildings under construction as transactions with compensation at a value lower than the real value in the sense of the application of Article 62, Part 7 of the RA Tax Code.”
Taking into account the fact that there are a number of cases when citizens have already paid a part of the money necessary for the construction of the building in order to purchase apartments and non-residential areas of the multi-apartment or subdivision buildings under construction, then for various reasons the said developer was declared bankrupt in accordance with the law. – it is proposed to provide an opportunity to formalize the sale of the real estates in question with the amount that the citizens will pay additionally to complete the construction of the building, and not according to the general regulations defined by the RA Tax Code, taking into account the fact that Article 62, Clause 7 of the RA Tax Code in accordance with the part, based on the decisions of the government, in the case of transactions with compensation at a value lower than the real value by VAT payers, the amount of compensation to be received without VAT is considered the basis of VAT taxation.
The problem is that in the event that the determination of the base of VAT taxation of the transactions in question is not implemented within the framework of the regulation defined by Article 62, Part 7 of the RA Tax Code, the amount of additional amounts to be paid by the citizens will increase significantly, the payment of which is considered unrealistic by the citizens.
Finance Minister Atom Janjughazyan noted that the regulation will apply to transactions concluded before January 1, 2015.