What are my tax obligations in the sale of apartments?

According to article 30 paragraph 2 of Law on the personal income tax ( "Official Gazette", no. 109/93) "... income is considered to be income taxpayer who made the alienation of property and property rights. Alienable is considered a sale, replacement and other with the transfer fee. Salary makes the difference between the receipt of a fortified by the market value of the property or property rights that are purchased alienable and increased value for the growth of manufacturing price of industrial products. Costs of alienation may decline as expenditure.

According to article 5. the same law: "(1) Income tax is charged at the rate of 25% of the tax base up to triple the amount of basic personal profit fortified by Article 34. paragraph 1. this law. (2) Income tax is charged at the rate of 35 % Of the excess tax base over triple the amount of basic personal deduction.

But not all the black for the seller, because under Article 30. c. 3. "income from the alienation of real estate in paragraph 2. this article are not taxable if the property used for housing or tax person under obligation dependant members of his immediate family, as well as in the case if the property or property right detachment after three years from the date of purchase".

So, if you stand in less than three years, you must obtain authentication confirmation by the occupants in charge of current affairs building (building commissioner) or equal certificate signed by two witnesses-building occupants with a population that is sold, from which will be evident that you have to stand continuously live from the date of his purchase, or buying and selling until the day flat.

If you're in your own home for more than three years, income tax is not paid.

Otherwise, by virtue of Article 62. "(1) In justified cases the Tax Administration may person under obligation to grant a postponement of tax payment due taxes or pay taxes in more meals. (2) If the tax payer is not paid meals in a given period, the Tax Administration may put off decision on the forces of approval of the payment by instalments take measures to back the debt payment at once. (3) Approved deferral not go out conscripts from the payment of interest, if Tax Administration decision on approval by instalments payment is not liberated from the payment of interest".

Aleksandar Ðorðeviæ, dipl. iur