Is a real estate acquired at the expense of funds from which all taxes and levies were paid subject to the one-time (special) voluntary declaration?
Paragraph 1 Sub-section 94 of Section XX “Transitional provisions” of the Tax Code of Ukraine as of 02.12.2010 № 2755-VI with changes and amendments (hereinafter – 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.
Herewith, Paragraph 3 Sub-section 94 of Section XX “Transitional provisions” of the TCU stipulates that the one-time (special) voluntary declaration can be used by individuals – residents, including self-employed, as well as individuals who are not residents of Ukraine but who were residents at the time of receipt (acquisition) of declaration objects or at the time of accrual (receipt) of income from which declaration objects were received (acquired) and who are or were taxpayers according to the TCU.
As follows, if an individual owns real estate which was acquired at the expense of funds from which all taxes and levies were paid provided by current legislation, then such individual is not required to submit the one-time (special) voluntary declaration.
