of January 9, 1996 No. 14-116-60/11-142
About the taxation of the income which is gained by citizens from sale of shares, investment certificates, bonds and other securities
Main state tax authorities of Ukraine... concerning the taxation of income gained by citizens from sale of shares, investment certificates, bonds and other securities reports.
According to the Law of Ukraine "About securities and stock exchange", the Regulations on investment funds and investment companies approved by the Presidential decree of Ukraine of 19.02.94 N 55/94, the specified securities are determined as the cash documents certifying right of possession or the relations of loan determine relations between person which issued them and their owner and provide, as a rule, payment of the income in type of dividends or percent, and also possibility of transfer of the cash and other rights following from these documents, to other persons.
Taking into account the given means, received by physical litsompredjyavitel of these securities not in the place of the main work (in the sphere of free circulation) from their sale to the dealer in securities, are not assessed with tax at payment source, and are subject to the taxation as a part of the annual taxable income by submission to tax authorities at the place of residence of the declaration on the amounts of the income received within year as in the place the main, and nonbasic work. Tax authorities check the data specified in declarations (including about income acquisition from security sale) and carry out calculation of the annual income tax amount from the comprehensive annual taxable income of these citizens.
About the amounts of the income paid to citizens with the permanent residence in Ukraine the dealer in securities shall for the securities purchased from them in 30-day time after payment send to tax authority at the place of residence of citizens the reference on f. N 2 (the appendix N 2 to the Instruction "About the income tax from citizens", Ukraine registered in the Ministry of Justice 09.06.93 under N 64).
Article 12 of the Decree provides that persons gaining income not in the place of the main work shall record the income and expenses connected with receipt of this income in form according to the appendix N 4 to the Instruction "About the income tax from citizens". It concerns also income gained by citizens from security sale.
Deputy chief V. Moroz
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