The Verkhovna Rada of Ukraine voted for a tax amnesty



On June 15 the Verkhovna Rada of Ukraine approved a law “On Amendments to the Code of Ukraine on Administrative Offenses, the Criminal Code of Ukraine and the Criminal Procedure Code of Ukraine in connection with the amendments to the Tax Code of Ukraine regarding the declaration by individuals of their assets and payment of a one-time fee to the budget”.

UA reports this with reference to the parliamentary web-portal.

243 MPs supported the bill.

The law provides for a one-time declaration of assets of individuals.

Persons who, in any period from January 1, 2010, perform or have performed public functions in Ukraine, cannot be declarants.

A one-time (special) voluntary declaration may reflect the following assets of an individual, in particular, as currency values (with the exception of cash), securities, movable and immovable property, including objects of unfinished construction, shares (units) in property of legal entities located (registered) both in Ukraine and abroad.

Special duty rates under the tax amnesty:

– 5% on currency values placed on accounts in banks in Ukraine and the rights of monetary claims against residents of Ukraine under certain conditions, as well as other assets located (registered) in Ukraine;

– 9% on currency values placed on accounts in financial institutions abroad and monetary claims against non-residents of Ukraine under certain conditions, as well as other assets (including movable and immovable property, property and corporate rights, financial instruments) located (registered) abroad;

– 2.5% of the nominal value of government bonds of Ukraine with a maturity of more than 365 days without the right of early redemption, purchased by the declarant in the period from January 1, 2021 to June 20, 2022 before submitting a one-time (special) voluntary declaration.

Besides, earlier, the Verkhovna Rada restricted the circulation of plastic bags in Ukraine, and also approved an appeal to the US Congress on sanctions for Nord Stream 2 pipeline.

date 15.06.2021
categories Economics

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