A parking space inextricably linked to an apartment building is subject to property tax

Tashkent, Uzbekistan (UzDaily.com) -- From 1 January 2021, a parking space inextricably linked with an apartment building is subject to property tax. This was stated in a joint statement by the Ministry of Finance and the State Tax Committee.

A parking lot, which is inextricably linked with an apartment building, is included in the object of taxation for the tax on property of individuals, the statement said. This property is taxed at a tax rate of 0.23% to the tax base.

According to the statement, this norm was included in Article 419 of the Tax Code.

According to the departments, this rule is of a clarifying nature, due to the fact that in practice a cadastral document is drawn up for a parking space located in the underground floors of apartment buildings, with the determination of the cadastral value on it.

For example, the cadastral value of a parking space is determined at 12 million soums. A tax rate of 0.23% is applied to this value. Accordingly, the amount of the annual tax on property of individuals for 1 parking space will be 27,600 soums.

The report notes that currently garages owned by individuals are subject to land tax and property tax.

The document emphasizes that this norm will not apply:

on individuals, who decided to arrange a place for their cars in the courtyard of their residential building;

for individuals, who use the services of legal entities for the storage of vehicles (paid parking lots). In this case, the tax payer is a legal entity.