Bill on establishing rent for land taking into account standard monetary value registered in Rada

Bill No. 11287 has been registered in the Verkhovna Rada of Ukraine on establishing the amount of rent for land taking into account the standard monetary value, the parliament said on the official website.

According to the explanatory note, the document proposes to amend the Tax Code and the Law On land leasing and determine that the amount of rent is established in the land lease agreement and is calculated as a percentage of the standard monetary value of the land, expressed in monetary terms on the date of conclusion of such an agreement.

It is expected that the adoption of the bill will ensure the use of the normative monetary valuation of a land plot as the basis for determining the amount of rent, and the change in the normative monetary valuation as the basis for revising the amount of rent for land.

According to the land lease law, land rent is a payment that the tenant makes to the lessor for the use of the land plot in accordance with the land lease agreement. The amount, conditions and terms of payment of rent for land are established in the agreement with the consent of the parties.