Funds in national and foreign currencies which on the date of submission of the one-time (special) voluntary declaration were in cash cannot be the declaration objects according to Sub-paragraph “d” of Paragraph 5 Sub-section 94 Section XX of the Tax Code of Ukraine (hereinafter – Code).
Herewith, Paragraph 9 Sub-section 94 Section XX of the Code stipulates that for purposes of the one-time (special) voluntary declaration, the declarant must place funds in national and foreign currencies in cash and / or bank metals on current accounts with a special regime of use in Ukrainian banks (hereinafter – special accounts) before submitting the one-time (special) voluntary declaration.
Declarant in order to ensure compliance with provisions of Paragraph 9 Sub-section 94 Section XX of the Code applies to the bank to open a special account. Procedure for opening, closing, crediting funds to a special account and exercising control over operations on such account is established by the National Bank of Ukraine.
As follows, the declarant who wishes to declare funds in national and foreign currencies in cash must place such funds on current accounts with a special regime of use in Ukrainian banks before submitting the one-time (special) voluntary declaration.
