The Ministry of Finance develops the main directions of tax policy for 2014-2016: many tax preferences to be abolished, excises for gasoline to increase

The Ministry of Finance elaborated the main directions of the tax policy for 2014-2016 and introduced them to the government. The main thing is that many tax preferences will be abolished and gasoline excises will increase.

There is some bad news for those who are going to sell an apartment or other real estate. People don’t have to pay taxes for such transactions if they own their real estate for more than three years. However, the Ministry of Finance considers, speculators can obtain a lot due to reselling and proposes to provide no benefits if a seller has something else other than the real estate for sale. I.e. if you sell an apartment and you have a house in the countryside, you have to pay the tax. Though, the tax is paid not from the sum obtained for the apartment but from the difference between the purchase and sales prices.