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Belgrade: High-rise buildings in the capital that earn more than 400,000 dinars a year must, like other businesses, pay a 15 percent income tax.
Source: News
Photo: Grand Warszawski / Shutterstock
While they are recorded as unprofitable, in the event that the cash register is full and the income from the rental of common premises, billboards, becomes taxpayers.
In accordance with the Accounting Law, housing associations are not required to submit financial reports or data for the purposes of APR statistics. However, the Corporate Income Tax Law still recognizes residential buildings.
“A taxpayer is also another legal entity, which was not established for the purpose of making a profit, if it makes income by selling products on the market or by providing services for a fee,” states the Serbian Chamber of Commerce.
Non-profit organizations that do not generate income are not considered contributors.
The income housing association is required to file a tax return and tax balance if the difference between the income earned from the market and the expenses is more than 400,000 dinars in the tax period.
Considering that most of the buildings in Belgrade cannot boast of a plus account, because the maintenance fund of destroyed buildings is difficult to fill, let alone with “abundant” profits, most of them do not belong to taxpayers. However, there are multi-story buildings in Belgrade that have money to make money, Novosti reports.
“In case the building rents basements, attics or some other parts or gives space in the facade or the patio to rent billboards, it can generate a considerable amount of money per month”, affirms the Association of Professional Managers of Belgrade. .
Where there are more crowded places, the price goes up, so that somewhere that amount goes up to 500 euros a month. that year it can be around 6,000 euros. That, then, is profit.
The housing communities that earn only for the purpose of maintaining the building, must send a notification to the Tax Administration that they have not obtained income in the market. In that case, you will not be treated as a corporate taxpayer.
To avoid taxes, the tenants and managers of these “wealthy” apartment buildings will invest in repairs and maintenance so they don’t have to pay income taxes.
“There are several buildings in our maintenance system that can boast a great background,” says Ljubia Banovaki, professional manager.
“So that we do not have to pay 15 percent of the tax on what we earn, we are constantly doing some interventions in those buildings, repairing the roof, the entrance and trying to spend money and evade taxes.”
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