Luxury Tax

Starting 1 January 2015 if total value of the real estate (including apartments, garages, farms, greenhouses, recreational buildings, fishery, civil engineering constructions and the like) owned by individuals exceeding EUR 220 thousand, then the excess value shall be subject to:

- 0.5% real estate tax when value is not exceeding EUR 300 thousand;

- 1% real estate tax when value is from EUR 300 thousand to EUR 500 thousand;

- 2% real estate tax when value exceeding EUR 500 thousand.

The tax return shall be submitted and tax to be paid until 15 December of the current year.