The draft state budget law for 2019 approved by the Cabinet this week envisions the collection of a private tax on transactions with public property, including shares, performed in the privatization process, IPN reports.
The private tax will represent 1% of the purchase value of the publicly owned property put up for privatization. The tax is paid before the signing of the sale and purchase contract and is transferred to the state budget or the local budget, depending on who the owner of the property is.
The private tax is not paid if the public property is transferred free under the private ownership of resident private individuals who do not perform entrepreneurial activities. The orphans and children from children’s homes and orphanages also do not pay the private tax.
If the sale and purchase contract is terminated because the buyer does not fulfil or inappropriately fulfils the undertaken obligations, the sums paid as private tax are not refunded.
