No progress in objective value adjustment due to insufficient transactions
so-called objective values as property rates used for tax purposes are known – are scheduled to apply from June. However, the competent committee of the Finance Ministry has hit a stumbling block and cannot deliver. Ministry officials explain that it is difficult for the objective values to be adjusted as the few property transactions that are conducted – typically under pressure to cover the sellers’ obligations – have not proved adequately sufficient to produce a database of market prices. The resulting disagreement between committee members as to how to tackle the situation has led to an impasse.