Normative – legal base. New property and income declaration form

New property and income tax declaration form (hereinafter – tax declaration) and instructions for filling it out, updated version of which was approved by Order of the Ministry of Finance of Ukraine № 467 as of 28.08.2023 "On approval of Amendments property and income tax declaration form and Instructions for filling out property and income tax declaration", registered in the Ministry of Justice of Ukraine on 18.10.2023 under № 1817/40873 is valid from 01.01.2024.

It should be noted that new tax declaration form provides for separation of the personal income tax liabilities (hereinafter – tax) determining the minimum tax liability by individuals-entrepreneurs (except for individuals who chose simplified taxation system) – owners, tenants, users under other conditions (including emphyteusis conditions) of land plots classified as the agricultural land. At the same time, please take into account the fact that payment of tax when determining the minimum tax liability by individuals-entrepreneurs (except for individuals who chose simplified taxation system) is carried out according to the budget classification code "11010500 – tax on income of individuals, which is paid by them based on results of annual declaration".

In addition, significant changes have been made to procedure for calculating amount of tax to be refunded from the budget in connection with use of a right to tax discount for expenses incurred according to Paragraph 166.3 Article 166 Section IV of the Tax Code of Ukraine (hereinafter – Code), except for expenses specified in Sub-paragraph 166.3.10 Paragraph 166.3.10 Article 166 Section IV of the Code (Annex F3 to declaration).