The Cabinet of Ministers of Ukraine has published a resolution concerning real estate valuation in the governmental press

On Dec 01, 2018 in the newspaper “Uriadovyi Kurier”  the Cabinet of Ministers of Ukraine has publishedthe 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”.

The Resolution has been adopted toimprovethe quality of valuation services (in the cases of determining the estimated value of property provided by the requirements of the Tax Code of Ukraine) and brings the Governmental normative acts in line with the requirements of Final and Transitional Provisions of the Law of Ukraine “On Amendments to the Tax Code of Ukraine and certain legislative acts of Ukraine concerning to ensuring the balance of Budget revenues in 2018”. Moredetailedseethere.

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).