14:39 20.11.2012

Profile committee to conduct additional consultations on 15% fee from sale of currency

2 min read

The parliamentary committee for finances, banking operations, tax and customs policies will conduct additional consultations with experts on the bill on the introduction of a 15% fee to the Pension Fund from the sale of cash foreign currency by individuals, the committee's head, Vitaliy Khomutynnyk has told Interfax-Ukraine.

"Additional consultations will be conducted with representatives of the government, the National Bank of Ukraine, lawmakers, and experts from the banking sector to find a compromise position on settling the problematic issues of the currency market," he said.

He said that the profile committee proposed to withdraw the bill on amendments to some Ukrainian laws on the transactions with foreign currency to work on it and agree the positions of the cabinet, National Bank of Ukraine, and the public.

As reported, the Ukrainian parliament has postponed for an indefinite period its consideration of a draft law on the introduction of a 15% fee to the Pension Fund from the sale of cash foreign currency by individuals.

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It does not also apply to operations on the sale of foreign currency withdrawn by individuals from deposit accounts that were opened at least 30 days before the withdrawal of funds.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 exempt from the payment of the fee only if they sell a respective amount in foreign currency for cash hryvnias at the moment of receipt.

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