Does a resident individual have right to submit the one-time (special) voluntary declaration and declare asset in the form of monetary claim under a loan agreement...?
Press service of the State Tax Service of Ukraine , published 18 January 2022 at 10:37 Chapter: News
Does a resident individual have right to submit the one-time (special) voluntary declaration and declare asset in the form of 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 until 01.01.2021?
Paragraph 1 Sub-section 94 Section XX “Transitional provisions” of the Tax Code of Ukraine (hereinafter – TCU) stipulates that the 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 (Paragraph 3 Sub-section 94 Section XX of the Code).
At the same time, Sub-paragraph “a” Sub-section 94 Section XX of the TCU and Sub-paragraph 14.1.280 and 14.1.281 Paragraph 14.1 Article 14 of the TCU stipulate that 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 (hereinafter – Declaration), including currency values (bank metals, excepting those not placed on accounts, national currency (UAH) and foreign currency, except for cash and monetary claims (including deposit, funds borrowed from third parties under the loan agreement), executed in writing form with a legal entity or notarized in case of declarant’s claim right to another individual.
Herewith, for declaration objects specified in Sub-paragraph “a” Sub-section 94 Section XX of the TCU, the 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 declaration objects to one-time (special) voluntary declaration.
Given the above specified, if an individual – resident 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 one-time (special) voluntary declaration.
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