How can the declarant calculate a basis for accrual of levy for the one-time (special) voluntary declaration of the real estate, movable property, corporate rights, securities, right to receive dividends, interest on other assets of an individual?

According to Sub-paragraph “b” – “f” Paragraph 4 Sub-section 9 Copy 4 Section XX “Transitional Provisions” of the Tax Code of Ukraine as of 02.12.2010 № 2755-VI with changes and amendments (hereinafter – the TCU), the objects of one-time (special) voluntary declaration (hereinafter – the declaration objects) 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 (as is defined in Sub-paragraph 14.1.280 and 14.1.281 Paragraph 14.1 Article 14 of the TCU), including:

b) real estate (land, residential and non-residential real estate).

For purposes of this Sub-section, the real estate also includes objects of unfinished construction, which:

are not taken into operation or the ownership right of which is not registered in a manner prescribed by law, but property rights on such objects belong to declarant on the ownership right;

are not put into operation and located on land plots belonging to declarant on the private property right, including joint property, on the long-term lease right or on the superficies right;

c) movable property, including:

vehicles and other self-propelled machines and mechanisms;

other valuable movable property (art and antiques, precious metals, precious stones, jewelry, etc.)

d) shares (units) in the property of legal entities or in entities without such status, other corporate rights, property rights to intellectual property;

e) securities and / or financial instruments specified by law;

e) right to receive dividends, interest or other similar property benefits not related to the ownership of securities, shares (units) in the property of legal entities and / or entities without such status;

f) other individual’s assets, including property, bank metals not placed on accounts, commemorative banknotes and coins, property rights belonging to the declarant or from which the declarant receives or has right to receive income under the property management agreement or other similar operation and does not pay the owner of such property part of income due to the owner.

Paragraph 7 Sub-section 9 Copy 4 Section XX “Transitional Provisions” of the TCU determines the basis for accrual of levy for the one-time (special) voluntary declaration based on specific declaration objects.

According to Paragraph 7.2 Sub-section 9 Copy 4 Section XX “Transitional Provisions” of the TCU, for the declaration objects defined in Sub-paragraph “b” – “f” Paragraph 4 Sub-section 9 Copy 4 Section XX “Transitional Provisions” of the TCU, the basis for calculating levy for the one-time (special) voluntary declaration is defined, particularly but not exclusively, as:

declarant’s expenditures for the purchase (acquisition) of declaration object;

value determined on the basis of property and property rights valuation, financial instruments and other assets. Assessment of the declaration object is carried out in compliance with laws of the country where such asset is located. Value of assets, determined in foreign currency, is reflected in the one-time (special) voluntary declaration in UAH at the official exchange rate of national currency set by the National Bank of Ukraine (hereinafter – the NBU) as of the date of submission of one-time (special) voluntary declaration;

nominal value of monetary claim rights;

purchase price or exchange value, valid as of the date of submission of the one-time (special) voluntary declaration, corporate rights (shares), which are admitted to exchange trading;

value of asset in the form of precious metals, which is determined in terms of weight to the purchase price of precious metals, determined by the NBU as of the date of submission of the one-time (special) voluntary declaration;

expenditures for purchase (acquisition) of securities and other financial instruments by the declarant that are not admitted to exchange trading and shares (units) in the property of legal entities or entities without such status, other corporate rights or the nominal value of such assets specified in relevant documents.

At the discretion of declarant for movable property (except for precious metals, vehicles and other self-propelled machines and mechanisms, works of art, precious stones (including organogenic formation) and products from them) the basis for calculation of levy for the one-time (special) voluntary declaration may to be independently determined value of declaration objects by the declarant, which are (registered) on the territory of Ukraine.