LAW OF UKRAINE

of July 14, 2020 No. 786-IX

About introduction of amendments to the Tax Code of Ukraine concerning functioning of electronic office and simplification of work of physical persons entrepreneurs

The Verkhovna Rada of Ukraine decides:

I. Bring in the Tax code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2011, Art. No. No. 13-17, 112) the following changes:

1. In Item 14.1 of Article 14:

The paragraph the fifteenth subitem 14.1.54 to replace 1) with two new paragraphs of such content:

"і) the income of nonresidents from alienation of shares, corporate laws in the authorized capital of the legal entity - the resident of Ukraine provided that at any time within 365 days preceding sale or other alienation, the cost of such shares, corporate laws for 50 and more percent it was formed at the expense of the real estate located in Ukraine and belongs to such legal entity - the resident of Ukraine or it is used by such legal entity - the resident of Ukraine based on the agreement of long-term lease, financial leasing or the similar agreement.

Share value, share, corporate or other similar laws (for the purposes of paragraph two of the subitem "i" and the subitem "і" this subitem) and real estate (for the purposes of the paragraph of the third subitem "i" and the subitem "і" this subitem) is determined based on book (residual) value by accounting data as the highest amount within 365 days preceding sale or other alienation at any moment and is subject to comparison with the cost of other property (assets) on book (residual) value according to accounting data of such legal entity";

Subitems 14.1.56-2 and 14.1.182-1 to state 2) in the following edition:

"14.1.56-2. electronic office - set of the information and telecommunication systems of the central executive body realizing the state tax policy, intended for interaction between taxpayers and state, including controlling, bodies for questions of realization of the rights and obligations determined by this Code and other laws, control of which observance is imposed on monitoring bodies, and the regulatory legal acts adopted on the basis and in pursuance of this Code and other laws, control of which observance is imposed on monitoring bodies.

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