Tax rebate: have time to refund a part of taxes by December 31st

Ukrainians still have opportunity to return a part of taxes paid for 2024. But time is running out.

It is possible to submit property and income declaration, and exercise right to tax rebate until December 31. After this date, opportunity to receive refunding for the year disappears irrevocably.

Tax rebate is a mechanism that allows citizens to refund a part of the personal income tax they have already paid. It is available to all officially employed Ukrainians who have documented expenses that are eligible for refunding.

What can be included in the tax rebate?

List of expenses in 2024 is quite extensive. It includes:

- Tuition payment – for oneself or family members of the first degree or a person over whom guardianship or care has been established, if the funds are paid to Ukrainian educational institutions.

- Donations and charitable contributions – in the form of donations or charitable contributions to the non-profit organizations, but not more than 4% of total income.

- Payment for using a mortgage loan – part of interest amount for using the loan.

- Insurance payments and pension contributions – under the long-term life insurance contracts, non-state pension provision, under the pension contract with the non-state pension fund.

- Expenses for assisted reproductive technologies – payment for assisted reproductive technologies, but not more than amount equal to one third of income in the form of salary for the reporting tax year.

- Payment for public services – cost of public services related to the adoption of a child, including payment of the state duty.

- Expenses for vehicle conversion – amount of costs for converting vehicle to use mixed motor fuel, bioethanol, biodiesel, compressed or liquefied gas and other types of biofuels.

- Expenses for construction (purchase) of affordable housing – amount of expenses for paying for the construction (purchase) of affordable housing.

- Housing rental expenses – for internally displaced persons (under certain conditions).

- Expenses for the acquisition of shares of the Diia City company – expenses for the acquisition of shares issued by a legal entity that has acquired status of the Diia City resident.

 The payer must provide copies of documents confirming these expenses: contracts, receipts, checks, payment orders.

What is important to know before submitting declaration?

- Declaration can be submitted at the registration place or electronically.

- Postal sending must contain description of the attachment and delivery notification.

- Refunding amount is transferred to the payer’s bank account within 60 calendar days after the declaration is submitted.

How to submit declaration?

- The most convenient way is through the payer’s Electronic cabinet: it is possible to fill out the declaration online, attach scans of documents and send it without visiting the Tax Service.

- In person at the State Tax Service’s body - for those who wish to submit paper declaration.

- By mail – in advance so that the shipment arrives by the end of year.

Tax rebate allows to return from hundreds to tens of thousands of UAH depending on the expenses. This is one of the easiest ways to save own money, so it is worth submitting the declaration now, without waiting for the last days of the year.