The rent will depend on monetary valuation
The Law of Ukraine On Prevention of Financial Catastrophe and Prerequisites for Economic Growth in Ukraine enforced the amendments to the Tax Code of Ukraine. In particular, the law ties the minimum amount of land rent to the monetary valuation, the information & communication unit at the Main Office of the Ministry of Revenue & Duties in Ternopyl oblast reports.
Thus, the minimum payment for renting a farm land plot or land for some other purpose should not be less than 3% of its normative monetary value.
The previous version of the Tax Code of Ukraine set forth assessment of the minimum rental value of the farm land based on the land tax.
