LETTER OF STATE TAX ADMINISTRATION OF UKRAINE

of October 12, 2009 No. 4776/S/22-5015

Relatively about filling of the Declaration on the currency values, the income and property belonging to resident of Ukraine and being beyond its limits

The State Tax Administration of Ukraine considered your letter (...) relatively about filling of the Declaration on the currency values, the income and property belonging to resident of Ukraine and being beyond its limits, directed by the letter of the Ministry of Finance of Ukraine of 10.09.2009 N 31-24040-03/1-18/24254, the following also reports.

According to article 9 of the Decree of the Cabinet of Ministers of Ukraine "About system of currency control and currency exchange control", Articles 1 and 5 of the Presidential decree of Ukraine of 18.06.94 N 319/94 "About urgent measures for return to Ukraine of the currency values which illegally are beyond its limits" to obligatory declaring the currency values, the income and property belonging to subjects of business activity - to residents and being outside Ukraine are subject.

The specified declaring is performed quarterly in form of the Declaration on the currency values, the income and property belonging to resident of Ukraine and being beyond its limits (further - the Declaration), Ukraine approved by the order of the Ministry of Finance of 25.12.95 N 207.

Proceeding from the name and contents of the Declaration in it the currency values, the income and property belonging to resident of Ukraine and on reporting date (1 number [every quarter]) being beyond its limits are subject to reflection.

Therefore information on financial investments, property and goods abroad containing in Sections 2 and 3 of the Declaration is subject to recalculation at the rate of the NBU on reporting date, that is on 1 number.

According to Item 2.7 of the Regulations on currency exchange control approved by the resolution of Board of the National Bank of Ukraine of 08.02.2000 of N 49, violation of procedure for declaring attracts imposing of penalty in the amount of 20 not taxable minima of the income of citizens.

Violation of procedure for declaring is representation of unreliable information or misstatement of the data which are reflected in the corresponding declaration if such actions demonstrate concealment by residents of the currency values and property which is outside Ukraine.

Thus, proceeding from economic essence of the Declaration tax authorities apply responsibility only for idea of unreliable information of availability of currency values or misstatement of the data testimonial of concealment of the currency values and property which is outside Ukraine.

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