Submission of a one-time voluntary declaration is provided by Law of Ukraine “On Amendments to the Tax Code of Ukraine and other laws of Ukraine to stimulate de-shadowing of incomes and increase tax culture of citizens by introducing one-time (special) voluntary declaration of assets and payment of one-time fee to the budget” No. 1539-IX of June 15, 2021. The campaign for one-time (special) voluntary declaration of assets of individuals will last from September 1, 2021 to September 1, 2022. At what rates will the fee for one-time (special) voluntary declaration of declared objects be collected?
Fee rates
The fee for one-time (special) voluntary declaration of declared objects is collected at three main rates.
5%
A tax rate of 5% will apply to:
- currency values placed on bank accounts in Ukraine and to the right of monetary claim against residents of Ukraine;
- in respect of objects to be declared located (registered) in Ukraine (real estate (land plots, residential and non-residential real estate objects), movable property, shares (units) in the property of legal entities or in entities without the status of a legal entity, other corporate rights, property rights to intellectual property, securities, rights to receive dividends, interest not related to ownership of securities, shares (units) in the property of legal entities and/or in entities without the status of a legal entity, other assets of an individual);
Alternatively, the taxpayer may choose a rate of 6% with the payment of the tax liability in three equal parts per year.
9%
The fee for one-time (special) voluntary declaration of objects to be declared may be charged in the amount of 9% in the following cases:
- on currency values placed on accounts in foreign banks or stored in foreign financial institutions, and on the right of monetary claim against non-residents of Ukraine;
- in respect of objects to be declared located (registered) abroad (real estate (land plots, residential and non-residential real estate objects), movable property, shares (units) in the property of legal entities or in entities without the status of a legal entity, other corporate rights, property rights to intellectual property, securities, rights to receive dividends, interest, not related to the ownership of securities, shares (units) in the property of legal entities and/or in entities without the status of a legal entity, other assets of an individual);
Alternatively, the taxpayer may choose a rate of 11.5% with the payment of the tax liability in three equal parts per year.
In the case of filing a one-time (special) voluntary declaration in the period from September 1, 2021 to March 1, 2022, instead of 9%, the fee rate for one-time (special) voluntary declaration of 7% is applied. Alternatively, the taxpayer may choose a rate of 9.5% with the payment of the tax liability in three equal parts per year.
2.5%
The tax rate of 2.5% is levied on 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 September 1, 2021 to August 31, 2022 before filing a one-time (special) voluntary declaration.
Alternatively, the taxpayer may choose a rate of 3% with payment of the tax liability in three equal parts per year.
