Feedback

Ukrainian Parliament approves tax amnesty laws

Source : 112 Ukraine

Tax declaration applicants will not need to reveal the sources of origins of their declared assets
16:42, 15 June 2021

Open source

Verkhovna Rada, the Ukrainian Parliament passed the laws № 5153, № 5154, № 5155 and № 5156. All of these concern the tax amnesty. The bills were approved in the second reading and as a whole.

The law foresees that a one-time voluntary declaration of assets of citizens will take place during the period from September 1, 2021 to September 1, 2022.

The individuals will have to pay one-time fee of 5 percent from the currency assets placed in accounts in the banks in Ukraine. Alternatively, the tax payer can choose the taxation rate of 6 percent; in this case, the tax liability will have to be payed in three equal parts annually.

The law defines the taxation rate of 9 percent in terms of the currency assets placed in foreign banks or stored in foreign financial establishments. Alternatively, the tax payer can choose the taxation rate of 11 percent; in this case, the tax liability will have to be payed in three equal parts annually.

Related: Verkhovna Rada obliges Google and Microsoft to pay taxes to Ukraine's budget

In order to declare the cash, they will need to be placed in a special bank account first.

Tax declaration applicants will not need to reveal the sources of origins of their declared assets.

Related: G7 countries agree to global minimum corporate tax rate

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more