In 2024, Ukrainians will have to pay additional taxes for the additional income received. According to the notification of the State Tax Service, it will be necessary to fill out a special declaration for this.
The new requirements provide for the payment of additional taxes and the declaration of the following types of income:
- Received certain types of income that are not taxed at the time of payment, but are not exempt from taxation in accordance with clause 168.1.3 of the Tax Code of Ukraine (this includes amounts of debt that are past the statute of limitations; charitable assistance that exceeds the established norm; additional benefits, etc.) .
- Income received from a person who is not a tax agent in accordance with clause 168.2.1 of the Tax Code of Ukraine (inheritance; gifts; income from renting property to another natural person; income from sales (exchange) of movable and immovable property, etc.).
- Foreign income (clause 170.11.1 of the Tax Code of Ukraine).
In addition, the following must submit a declaration:
- Individuals who receive income from entrepreneurial activities, with the exception of those who have chosen a simplified taxation system (according to Article 177 of the Tax Code of Ukraine).
- Natural persons engaged in independent professional activity (according to Article 178 of the Tax Code of Ukraine).
- Foreigners who acquired the status of a resident of Ukraine during the reporting year must display income with a source of origin in Ukraine and foreign income (according to clause 170.10.4 of the Tax Code of Ukraine).
- Residents who go abroad for permanent residence.
It is important to note that banks can freeze accounts after suspicious transfers if the client cannot document the origin of the funds. In addition, financial institutions are increasingly subject to fines for insufficient customer due diligence and missed violations.
