Suchergebnisse

This book, comprising the proceedings and working documents of an annual seminar held in Milan in November 2014, provides a thorough analysis of the taxation of immovable properties. 0The analysis starts from a survey of the concept of immovable property in common and civil law jurisdictions and then considers how different approaches affected the taxation of income deriving therefrom. 0EU tax law issues are then taken into consideration, both from an income tax and VAT viewpoint. In particular, the income tax analysis provides an extensive examination of how taxation of immovable property applied by EU Member States may affect fundamental freedoms

The research aim is to analyse the peculiarities for application of immovable property tax in Latvia and to assess the main factorsaffecting the amount of immovable property tax and contradicting the basic principles for imposing taxes. It is essential to review themethods how the State Land Service determines cadastral values for real estate, since the cadastral value is the base for calculation ofimmovable property tax. The revision is required as the establishment of a fair tax system is impossible without adequate and comparablecadastral values. In the future, land shall be valued pursuant to lease and not to expropriation transactions in Latvia, whilethe cadastral valuation of buildings might be done consistent with the method of expenses by determining construction expenses ofbuildings. The issue on mass inspection of physical condition of buildings and data updating shall be solved in Latvia. In addition, anissue on possibilities to apply the most fair procedure for tax calculation shall be solved on the governmental level, i.e. to calculatetaxes consistent with procedure for the use of immovable property registered in the Land Register as well as to cancel the limitationfor increase of immovable property tax stated by the municipality and to regulate the tax burden through tax rates.KEY WORDS: immovable property tax, limitation for the tax increase, property structure, cadastral value.

The paper deals with the issue of using a local coefficient as a tool to increase tax revenues of local government budgets in the Czech Republic. The local coefficient is defined as a corrective element increasing up to five times the immovable property tax that is 100% public budgets of local governments (municipalities) since 2009. As part of the paper, our own questionnaire survey was conducted across municipalities in the Czech Republic with the aim of identifying positive and negative consequences of application or non-application of this tax instrument at the level of local governments. Results of the research clearly demonstrate the use of the local coefficient, despite its potential high budget revenue is not high at all. In 2020, only 10.43% municipalities from all over the Czech Republic applied it. A research survey conducted among municipalities focused on obtaining information on the reasons for the low use of the local coefficient. To this end, two research questions were formulated "Do municipalities have sufficient information on local coefficient issues?" and "May the introduction of a local coefficient result in a loss in the communal elections?" The questionnaire survey showed that 91% municipalities know about their possibility to apply a local coefficient, but do not use it. Moreover, it was found that if the local coefficient is introduced at the right time or handling additional tax revenues of the municipality is transparent, its introduction does not affect the election result of the political party that declared it by a generally valid decree. ; OA

The main Acts applicable to the disposal of immovable property are the Alienation of Land Act 68 of 1981, the Deeds Registries Act 47 of 1937(DRA), the Sectional Titles Act 95 of 1986, the Subdivision of Agricultural Land Act 70 of 1970, the Transfer Duty Act 40 of 1949(TDA), the Value Added Tax Act 89 of 1991(VAT Act) and the Income Tax Act 58 of 1962(ITA). Apart from legislation there is also South African common law which is based on Roman-Dutch and English Law principles which also play an important role when dealing in immovable property. This dissertation focuses its review on the timing of immovable property transactions to determine the incidence of tax in South Africa and concentrates on the differences in the timing of ownership according to the ITA, VAT Act, TDA and DRA as well as common law principles. International accounting standards have been reviewed and a comparison drawn between the accounting treatment of a disposal and the tax treatment as well as a comparison drawn up between South Africa and Australia with regards to how for tax purposes the disposal of immovable property is treated. Statutory authority is necessary before taxes can be imposed and only the statute must be used in order to determine the liability for tax. Accounting or related principles are not taken into account when the tax liability is determined except in instances where the ITA specifically provides for it. The aim of this dissertation is to answer the question of whether there is a disconnect between the timing of the transfer of immovable property and the timing of the attendant taxation for the seller through analysing specifically the various Acts and laws which impact the transfer of immovable property.