The Saeima today adopted amendments to the Law on Real Estate Tax in the final reading, which stipulates that properties subject to sanctions will not be eligible for municipal discounts/relief on real estate tax (NIN).
The law stipulates that the relevant NIN exemptions shall not apply to a NIN payer in respect of immovable property owned by a sanctioned person.
The administrator of the Land Register will inform the relevant municipality about the properties which are sanctioned. The information will have to be sent to municipalities by January 15.
The law will enter into force on January 1, 2024.
Source: BNS
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