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of July 15, 2024 No. 85
About approval of the Regulations on procedure for application of subitems 165.1.27 and 165.1.28 of Item 165.1 of Article 165 of the Section IV of the Tax code of Ukraine when implementing activities for insurance
According to Articles 15, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", article 114 of the Law of Ukraine "About insurance", article 165 of the Tax Code of Ukraine, for the purpose of determination of procedure for application of subitems 165.1. 27, 165.1.28 Items 165.1 of Article 165 of the Section IV of the Tax code of Ukraine in case of implementation of insurance payments (payments of insurance indemnities), procedural payments, payments of the redemption amounts for the insurance contracts Board of the National Bank of Ukraine decide:
1. Approve Regulations on procedure for application of subitems 165.1.27 and 165.1.28 of Item 165.1 of Article 165 of the Section IV of the Tax code of Ukraine when implementing activities for insurance (further - the Provision) which is applied.
2. Determine that requirements of the Provision extend to insurance contracts which were concluded about day of entry into force of this resolution and continue to be effective after entry into force of this resolution, when implementing insurance payments (payments of insurance indemnities), procedural payments, payments of the redemption amounts or their parts for such agreements.
3. To department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) after official publication to inform insurers information on adoption of this resolution.
4. The resolution becomes effective in three months from the date of, its official publication following behind day.
Chairman
A. Magnificent
Approved by the Resolution of Board of the National Bank of Ukraine of July 15, 2024 No. 85
1. This Provision is developed according to the laws of Ukraine "About the National Bank of Ukraine", "About insurance", "About compulsory insurance of civil responsibility of owners of land vehicles", the Tax code of Ukraine (further - the Tax code).
2. This Provision determines procedure for application of subitems 165.1.27 and 165.1.28 of Item 165.1 of Article 165 of the Section IV of the Tax code in case of implementation:
1) insurance payments (payments of insurance indemnities), procedural payments, payments of the redemption amounts for insurance contracts, other, than agreements of long-term insurance of life, including insurance of life pensions (further - payment for the insurance contract);
2) insurance payments (payments of insurance indemnities), the redemption amounts or their parts under agreements of long-term insurance of life, including insurance of life pensions (further - payment for the agreement of long-term insurance of life).
3. Requirements of this provision extend to resident insurers and branches of nonresident insurers (further - insurers), motor (transport) insurance bureau of Ukraine (further - MTSBU) who according to the Section IV of the Tax code are tax agents on income tax and responsible for content (charge) and payment (transfer) of military collection in the budget according to Item 16-1 of subsection 10 of the Section XX "Transitional provisions" of the Tax code, in case of implementation of payment for the insurance contract and/or under the agreement of long-term insurance of life which is received by the physical person (further - the taxpayer).
4. The terms "agreement of long-term insurance of life", "regular price" in this Provision are used in the values given in the Tax code.
Other terms in this provision are used in the values given in the Laws of Ukraine "About insurance", "About compulsory insurance of civil responsibility of owners of land vehicles", other laws of Ukraine and regulatory legal acts concerning regulation of the markets of financial services and also the legislation of Ukraine regulating legal relationship in health sector.
5. Provisions of subitem 165.1.27 of Item 165.1 of Article 165 of the Section IV of the Tax code are applied concerning payment amount according to the insurance contract which provides life insurance and/or health (risks insurance, connected with life, health, working capacity and/or provision of pensions), except payment for the agreement of long-term insurance of life (further - life insurance and/or health), in case of accomplishment of one of the following conditions:
1) survival by insured person before date or the event provided by the life insurance contract, other, than long-term insurance of life, or in case of achievement of the age determined by such agreement or
2) payments of the redemption amount of parts which is not exceeding the amount of the brought (paid) insurance premiums (insurance payments, insurance premiums) according to the life insurance contract, other, than long-term insurance of life, or
3) loss occurrence, provided by the life insurance contract and/or health or the legislation by which the damnification fact is confirmed to insured person properly according to requirements of this provision. Payment amount according to the life insurance contract and/or health which in case of the death of insured person is performed to the beneficiaries specified in such insurance contract and/or heirs, is assessed with tax by the rules and rates established by the Tax code for the inheritance taxation (the beneficiary is equated to the heir).
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