The law envisaging the introduction of a fee from individuals to the Pension Fund on the sale of foreign currency in cash at 15% of the transaction amount, if approved by Parliament on November 20, could come into force in February 2013, the author of a respective bill, the head of the concerned committee of the Verkhovna Rada, Vitaliy Khomutynnik, has told Interfax-Ukraine.

"The consideration of the bill is scheduled for November 20. The authors of the bill envisaged an adjustment period - two months. So the law can start working no earlier than February," he said.

Khomutynnik said that the working group on drafting the bill included representatives of the National Bank of Ukraine, the Finance Ministry and the committee on finance, banking, tax and customs policy, which he leads.

As reported, bill No. 11433, which foresees the introduction of a fee to the Pension Fund on the sale of foreign currency at 15% of the transaction amount, was registered in parliament on November 16. The document envisages a number of exceptions. In particular, the fee does not apply to transactions by individuals on the sale of foreign currency transferred from abroad in an amount not exceeding the equivalent of UAH 150,000 per month.

It does not also apply to operations on the sale of foreign currency withdrawn by individuals from deposit accounts that were opened at least 30 days before the withdrawal of funds.

In addition, the 15% tax will not concern transactions on the sale of foreign currency received during the payment of coupon income and from the sale or redemption of treasury bills and government bonds denominated in foreign currency.

According to the bill, individuals will be exempted from the payment of the fee only if they sell a respective amount in foreign currency for cash hryvnia at the moment of receipt.