The proposed document suggests a reduction in the amount of state duty collected for notarizing real estate transactions. In particular, it is planned to align the rates with those that apply to transactions not requiring notarization.
According to the draft, for cashless transactions, the duty will be:
- 300 soms — for transactions between close relatives (parents, children, spouses, brothers, sisters, grandmothers, grandfathers, grandchildren);
- 500 soms — for other individuals;
- 1,000 soms — if one of the parties to the transaction is a legal entity.
As for cash transactions, the following duty amounts are proposed:
- 3,000 soms — for close relatives;
- 5,000 soms — for other individuals;
- 10,000 soms — if a legal entity is a party to the transaction.
The draft also makes changes to the state duty for issuing a notarial order. For individuals, it will be 1,000 soms, and for legal entities — 2 percent of the amount being collected, but not less than the established minimum.
According to the justification for the draft, the current rates are too high for most citizens, complicating the process of formalizing property rights and leading to circumvention of notarial procedures. It is expected that the reduction in duty will simplify the process of real estate transactions, according to representatives of the cabinet.
If the draft is adopted, the new rates will come into effect one week after official publication.
