Is an individual obliged to submit documents confirming amount of funds placed on accounts in Ukrainian banks in national or foreign currency submitting the one-time (special) voluntary declaration?
According to Paragraph 1 Sub-section 94 Section XX of the Tax Code of Ukraine (hereinafter – the Code), the one-time (special) voluntary declaration is a special procedure for voluntary individual’s declaration (Paragraph 3 of this Sub-section) of assets located on the territory of Ukraine and / or abroad, if such individual’s assets were received (acquired) at the expense of income that was subject to taxation in Ukraine at the time of their accrual (receipt) and from which taxes and fees were not paid or not in full amount according to requirements of tax legislation and / or international agreements, consent to the binding nature of which is provided by the Verkhovna Rada of Ukraine, and / or which were not declared in violation of tax and currency legislation, the control of which is entrusted to the supervisory authorities during any of the tax periods that took place before 01.01.2021.
At the same time according to Sub-paragraph “a” 94 Section XX of the Code and Sub-paragraph 14.1.280 and 14.1.281 Paragraph 14.1 Article 14 of the Code, objects of the one-time (special) voluntary declaration may be assets of an individual owned by the declarant (including joint partial or joint common ownership right) and are (registered, in circulation, registered, etc.) on the territory of Ukraine and / or abroad as of the date of submission of the one-time (special) voluntary declaration including but not exclusively:
currency values (bank metals, except for those not placed on accounts, national currency (UAH) and foreign currency, except for cash and monetary claims (including deposit), funds borrowed from third parties for loan agreement) compiled in writing form with a legal entity or notarized in case of the declarant’s right claim against another individual.
Herewith, according to Sub-paragraph 7.1 Paragraph 7 Sub-section 94Section XX of the Code for the declaration objects defined in Sub-paragraph “a” Paragraph 4 Sub-section 94Section XX of the Code:
Levy’s accrual basis for the one-time (special) voluntary declaration is monetary value of relevant declaration object or the nominal value of monetary claim, including loans granted to third parties. If such monetary value is determined in foreign currency, the value of such currency values is indicated in UAH at the official exchange rate of national currency to the relevant type of currency values determined by the National Bank of Ukraine as of the date of submission of one-time (special) voluntary declaration. If such monetary value is determined in the form of bank metals, the value of bank metals is indicated basing on the weight and accounting price of bank metals calculated by the National Bank of Ukraine as of the date of declarant’s submission of the one-time (special) voluntary declaration.
Declarant is obliged to document monetary value of such objects for the levy’s calculation and accrual for the one-time (special) voluntary declaration by attaching duly certified copies of documents confirming value of the declaration objects to one-time (special) voluntary declaration.
Given the above specified, an individual who has expressed a desire to declare funds in national and foreign currency, placed on accounts in Ukrainian banks, must document amount of declared funds. In this case, such documents are provided by an individual simultaneously with submission of the one-time (special) voluntary declaration.
