We owe tax when selling a property

We owe tax when selling a property

Question:
Hello!
On 23.04.2024, I bought a plot of land in a village. So far, I have built a house on it /prefabricated wooden structure/ and I am on act 14 with all the necessary documents - project, visas, permits, etc. I will sell it on 25.04.2027, that is, in three years and two days. Will I owe a 10% profit tax? Just to clarify that I am a civil servant - a police officer.
Thanks in advance!

Answer:
Hello,
From the question we understand that you intend, after more than three years, to sell the property with a newly built house. You fall under the provision of Art. 13, para. 1, p. 1 of the Personal Income Tax Act, which states that the sale of residential real estate, if more than three years have passed between the date of acquisition and sale or exchange, is not subject to tax. This only needs to be declared in an annual tax return under Art. 50 of the Personal Income Tax Act. The fact that you are a civil servant does not allow you to carry out commercial activities: purchase and sale of several properties in one calendar year or for a period of less than three years.
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Greetings!