Question of the week

When should the taxpayer submit the tax declaration? Should the tax declaration be submitted annually like the income tax?

The taxpayer should submit the tax declaration for all the real-estates he/ she owns or utilizes once every 5 years within the five –year survey in the second half of the year preceding the survey.
In case the taxpayer has recently owns a new building or adds other units to his/her building (building other floors) and his/her building has previously been surveyed, he / she has developed the building that the rental value is affected, or he/she uses land that has been vacuum, he/she has to submit tax declaration by the end of December of the year in which the updates have occurred.