President’s bills offer tax amnesty with a flat tax of 5% for one-off declaration of currency values placed in bank accounts in Ukraine and other assets in Ukraine, as well as 9% for currency in bank accounts and other assets which are abroad, as evidenced in the materials posted by Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Danylo Hetmantsev on his Telegram channel. At the same time, when purchasing government bonds from January 1, 2021 through June 20, 2022, before submitting the declaration, it is proposed to apply a tax of 2.5%.
According to the submitted materials, the amnesty may cover assets in Ukraine or abroad, acquired at the expense of income that has not been declared for any tax period as of January 1, 2021. And such a mechanism can be used by Ukrainian individuals, as well as nonresidents who were residents at the time of acquisition of assets or income.
“Assets to be declared: any assets, including movable/immovable property, securities, corporate rights, for which the subject of the declaration is the owner or from which he has the right to receive income,” the materials said.
The package of bills also provides for the deadline for filing a declaration: from July 1, 2021 to July 1, 2022.
It is proposed to establish that the following assets do not require the submission of a special declaration: real estate (an apartment up to 120 sq. m, a house up to 240 sq. m, nonresidential premises up to 60 sq. m, a land plot meeting free privatization standards);
– one vehicle that is in the register (except for those intended for the carriage of 10 people and more or with an engine capacity of more than 3,000 cubic cm, or the average market value of which is above 375minimum wages, while aircraft, helicopters, yachts, boats are subject to declaration); other assets with a total value of up to UAH 400,000.
