10:25 30.07.2018

Voluntary foreign assets declaration campaign should start no later than 2019 – MP Yuzhanina

1 min read
Voluntary foreign assets declaration campaign should start no later than 2019 – MP Yuzhanina

The voluntary foreign assets declaration campaign should start no later than 2019, as soon Ukraine would join Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information, Head of the parliamentary committee for tax and customs policy Nina Yuzhanina has said.

"Everyone should have the opportunity, without burdensome penal sanctions, to clear their history before the start of automatic exchange of tax information, provided that their incomes have not been received by criminal or corruption means," the press service quoted Yuzhanina on the website.

She also said that the statements on accounts opened by tax residents of Ukraine in other jurisdictions will become available to the regulatory authorities after 2019.

At the same time Yuzhanina said that additional revenues to the national budget due to the taxation of assets of residents of Ukraine abroad, from which taxes were not previously paid, may amount to about UAH 30 billion.

"The essence of the declaration is that citizens voluntarily disclose information about owning assets abroad and pay relevant taxes from them, and the state guarantees them complete exemption from administrative and criminal responsibility for tax and currency offenses," the MP said.

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