Can a resident individual submit the one-time (special) voluntary declaration and declare asset in the form of a monetary claim under a loan agreement provided to another individual at the expense of funds (in national or foreign currency)...?
Can a resident individual submit the one-time (special) voluntary declaration and declare asset in the form of a monetary claim under a loan agreement provided to another individual at the expense of funds (in national or foreign currency) from which taxes were not paid in tax periods before 01.01.2021?
Paragraph 1 Sub-section 9 Copy 4 of Section XX “Transitional provisions” of the Tax Code of Ukraine as of 02.12.2010 № 2755-VI with changes and amendments (hereinafter – the TCU) stipulates that one-time (special) voluntary declaration is a special procedure for voluntary individual’s declaration of assets located on the territory of Ukraine and / or abroad, if such individual’s assets were received (acquired) by at the expense of income subject to taxation at the time of their accrual (receipt) in Ukraine and from which taxes and levies were not paid or not in full amount according to legislative requirements on taxation and / or international agreements, the binding nature of which was approved by the Verkhovna Rada of Ukraine and / or which were not declared in violation of tax and currency legislation, the control over which is entrusted to the supervisory authorities during any of the tax periods that occurred before 01.01.2021.
At the same time according to Sub-paragraph 14.1.280 and 14.1.281 Paragraph 14.1 Article 14 of the TCU, 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 (Paragraph 4 Sub-section 94Section XX of the Code), specifically 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 (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.
As follows, resident individual who owns asset in the form of a monetary claim (funds borrowed from third parties under a loan agreement), which is notarized, may voluntarily declare asset by submitting the Declaration.
