Stamp taxes apply on a wide range of legal documents at 0.75% over the amount specified, such as contracts, loan agreements, guarantees and mortgages. The ceiling for stamp tax is
per each document that is subject to stamp tax. Foreign exchange loan agreements with foreign institutions are exempt from stamp tax. Stamp duty is applied at 0.45% on letter of credits and at 0.6% on salaries.
Real estate tax is a kind ofwealth tax. It is broken down into building tax and the land tax, with rates on assessed value of 0.1% for residences; 0.2% for other buildings; 0.1-0.3% for land. The tax is paid in two equal installments.
The rates applied with 100% increase for the real estates within the boundaries of big cities.
Commission and interest income of the banks and the premiums collected by insurance companies are subject to 5% BITT. BITT is applied at 0.1% on foreign exchange selling transactions by the banks. Transactions that are subject to BITT are exempt from VAT. Motor vehicle tax is payable by the motor vehicle owners. Tax amount varies according to the type, features, and age of the vehicle (cars, buses, lorries, trailers, airplanes, and helicopters). |
