What are the taxes when buying a home?

• State Duty. This payment is 1% of the value of the property specified in the contract of sale. Usually, this payment is paid by the seller when buying and selling real estate, but the parties can agree on another option.

• personal income tax. Income tax on the sale of real estate is paid by the seller. Its size will depend on several factors. If the owner of the property is a citizen of Ukraine, then this tax will be 5% of the sale amount, for citizens of other countries this rate is 18%. Also, the amount of personal income tax will depend on the number of transactions made during the year and the type of property sold.

• military collection. If the seller pays personal income tax, then the military tax must be paid in addition, which is equal to 1.5% of the real estate value.

• pension contribution. After the deal is concluded, the buyer must pay a pension fee of 1% of the purchase price. The receipt for payment of this fee is the basis for entering information into the State Register (this is done by a notary).

These mandatory payments are paid by the seller, the buyer, or both parties.