Income from renting residential premises owned by individuals (except for hotels and accommodation facilities located in hotel-type facilities) to individuals will be subject to a 10 percent withholding tax, APA reports.
This is reflected in the proposed amendment to the Tax Code, which was discussed at today's session of the Milli Majlis.
Thus, while the current legislation provided for the payment of 14% tax on income from renting apartments to individuals, the new amendments reduce this limit to 10%.
When the rent is paid by an individual who is not registered as a taxpayer, the lessor himself or his designated tax agent will pay the tax at a 10 percent rate in accordance with this article and file a tax return.
After discussions, the draft law was put to a vote and adopted in the third reading.
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