The government brought a resolution on property valuation in line with the current legislation

On the Governmental Portal the Cabinet of Ministers of Ukraine has published the Resolution No. 971 dated of Nov 21, 2018, amending the Resolution of the Cabinet of Ministers of Ukraine No. 358 dated of Aug 21, 2014 "Some Issues of Implementation of the Provisions of the Tax Code of Ukraine on Property Valuation". 

These amendments bring the Resolution in line with the provisions of Article 172 of the Tax Code of Ukraine. The changes concern to the work of the Unified Database of Evaluation Reports.

Thus, in particular, in accordance with the Resolution of the Cabinet of Ministers of Ukraine No. 971 dated of Nov 21, 2018, the Unified Database of Evaluation Reportsmonitors information in the valuation report for no violations during the preparation of valuation report.

Subject to completeness, correctness and conformity of the information in the valuation report, including the compliance of an estimated value of the property determined by valuer to market prices (in cases covered by the requirements of Article 172 of the Tax Code of Ukraine), the Unified Database of Evaluation Reports carries out the registration of the valuation report.

An accordance of estimated value of property, determined by the valuer in valuation report (in cases covered by the requirements of Article 172 of the Tax Code of Ukraine), to market values is determined by the Unified Database of Evaluation Reports by means of the module of electronic determining of estimated value for similar objects (which is the part of the Unified Database of Evaluation Reports).