Property Tax: The Present and Future of Cadastral Valuation

The overarching revision of how property tax is administered is largely behind the recent increase in the fiscal burden experienced by SMEs. In Russia, most microbusinesses and small enterprises work under a special tax regime (the simplified tax regime being the most common). And this is precisely in order to clearly delineate fiscal obligations, whether that be a percentage of turnover (profit) or a specific, predetermined amount. However, since 2014, small businesses have often been additionally levied property tax based on the cadastral value. Entrepreneurs often have questions regarding conducting a cadastral valuation. The introduction of a new valuation methodology has further exacerbated matters.