Head of state signed the law on property tax exemption for religious organizations

Ukrainian President signed Law № 420-VIII “On Amendments to Article 266 of the Tax Code of Ukraine regarding property tax exemption of religious organizations,” which was adopted by Ukrainian  Parliament on May 14 this year.

The amendment to Article 266 of the Tax Code of Ukraine provided by this act exempt for taxthe immovable property other than land, real estateowned by religious organizations and used exclusively for their statutory activities, including facilities where charitable institutions, founded by these religious organizations operate: orphanages, boarding schools, hospitals, except for the facilities in which their business or production activities are carried out.

The law also encourages local authorities within one month after publication of the law to review the decision on the setting the property tax for  2015 for real estate owned by religious organizations. It was reported by the press service of the President of Ukraine.