In Ukraine, the pension tax for the first home purchase was canceled.

The government has determined the procedure for exempting the payment of pension tax for citizens who buy a home for the first time or are on the waiting list for housing.

The Council of Ministers approved the abolition of the pension tax on the first purchase of a home. The government made such a decision in a meeting on Wednesday, September 23, Prime Minister Denis Shmygal said on his Telegram channel.

“Ukrainians should be able to buy a home at affordable prices. With today’s decision, the government has determined the procedure for exemption from payment of pension contributions for citizens buying a home for the first time or waiting for a home. “Shmyhal said.

According to the prime minister, this will reduce the cost of buying a home. In addition, the Cabinet continues to work to reduce mortgage rates.

“There are already proposals, as promised by the President of Ukraine, of 10% or less for mortgages,” Shmygal said.

As you know, earlier, during the execution of a contract of sale with a notary, the buyer of an apartment or house paid a fee to the Pension Fund in the amount of 1% of the value of the property.

We will recall, President Volodymyr Zelensky said that Ukrainians should be able to buy homes on credit at affordable interest rates, at least 10% per year, as the bank mortgage rates that have existed so far are “simply unaffordable” for many families.

But later, the Finance Ministry explained why there will be no 10% mortgages yet, calling this an achievable goal in the future.

In addition, the president vetoed the law passed by the Verkhovna Rada on a moratorium on the collection of property from citizens provided as collateral for foreign currency loans.

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