• 24/07/2024 08:16

Official: The text of the National Strategy does not contain information about the 18% tax on bank transfers of citizens

The text of the National Strategy does not contain measures for taxation of income on an individual’s card. This is stated in the message of the Ministry of Finance.

Official: The text of the National Strategy does not contain information about the 18% tax on bank transfers of citizens

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Explanation of the Ministry

Incorrect conclusions on this issue could be made based on information from section 4.3.1 “Reform” simplified taxation system”:

“All income of individuals received outside of business activities, except for those expressly provided for by the Tax Code of Ukraine, will be subject to taxation at the general tax rate on personal income provided for by the Tax Code of Ukraine.”

In fact, this means that :

1. There are no words in the text about “any receipts on an individual’s card”;

2. The phrase about the requirements for “taxation of income received outside of business activities” reflects the general principles of taxation that already exist in the current tax legislation (in Section IV of the current edition of the Tax Code of Ukraine).

It is important to note that any reform of tax policy requires the development of detailed changes to tax legislation.

Read: Getmantsev denied information about the 18% tax on bank transfers of citizens

No fundamental reform (especially such a complex one as changing the rules for taxation of personal income) is simply impossible without discussions with the public, business, and relevant authorities.

In addition, as indicated in the National Strategy, such changes may be introduced no earlier than the year following the one in which measures to ensure confidentiality and data protection in the State Tax Service systems (including information received from taxpayers and tax agents) will be considered completed.

Background

On December 28, Anatoly Amelin, director of economic programs at the Ukrainian Institute of the Future analytical center, announced on Facebook that any receipts to an individual’s card will be subject to a tax of 18%. Allegedly, this norm is included in the National Revenue Strategy for 2024.

minfin.com.ua

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