What are the legal consequences of non-submission of the one-time (special) declaration by individuals who have right to do so?
One-time (special) declaration provided is voluntary according to Sub-section 94 Section XX “Transitional Provisions” of the Tax Code of Ukraine as of 02.12.2010 № 2755-VI with changes and amendments (hereinafter – the TCU).
Herewith, if individual who is entitled to the one-time (special) declaration does not use it (ie does not submit declaration), such individual will be considered as the one who informed supervisory authority that as of 31.08.2022 (date of completion of a period of the one-time (special) voluntary declaration):
- such individual does not own assets received (acquired) at the expense of income from which taxes and levies have not been paid or not full amount according to tax legislation at the time of accrual (receipt) of such income, and / or
- that the composition and volume of such assets (ie assets received (acquired) from income from which taxes and levies have not been paid or not full amount according to tax legislation at the time of accrual (receipt) of such income) are owned by such individual within the limits specified in Paragraph 10 Sub-section 94 Section XX of the TCU.
Paragraph 10 Sub-section 94 Section XX of the TCU determines the composition and volume of assets, sources of receipt (acquisition) of which in case of the individual’s non-use of right to submit the Declaration are considered to be those from which taxes and levies have been paid in full amount according to tax legislation.
