Law on introduction of voluntary declaration published in parliamentary newspaper

Law No.1727-IX "On amending Article 29 of the Budget Code of Ukraine in connection with amendments to the Tax Code of Ukraine to stimulate the de-shadowing of incomes and enhancing the tax culture of citizens by introducing the one-time (special) voluntary declaration by individuals of assets belonging to them and payment of one-time dues to the budget "(Bill No.5154) envisages that the money that will be collected in the form of taxes for the declared funds will be transferred to the general fund of the budget.

The law comes into effect on the day following the day of its publication.

As Ukrinform reported, a campaign of the one-time (special) voluntary declaration was launched in Ukraine on September 1.

The voluntary declaration campaign will last throughout the year, until September 1, 2022. The main services will be provided by the State Tax Service. The declaration procedure is completely voluntary; declarants do not have to confirm the sources of their income.

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