Poroshenko signs law to exempt ATO charitable aid from income tax
Ukrainian President Petro Poroshenko has signed bill No. 1668-VII into law to amend the Tax Code of Ukraine to exempt charitable aid to participants in the anti-terrorist operation (ATO) from individuals' income tax during the ATO period.
The law, which was originally proposed by the president after he met with volunteers in August, stipulates that money transferred to bank accounts of charitable aid recipients (individuals included into the register of ATO volunteers) who will then arrange charitable assistance to ATO participants won't be included into individuals' monthly (yearly) taxable incomes, the presidential press service said.
In addition, the assets or the value of special personal protective equipment (helmets, bullet-proof vests produced under military standards), surveillance equipment, medicines and medical devices, personal care products, foodstuffs, clothing, as well as other goods or services stipulated in the Cabinet's list, which were voluntarily transferred to meet ATO needs will be temporarily (for the period of the ATO) included without any restrictions into corporate tax payers' other ordinary business expenses.
The law also regulates issues related to compiling the register of ATO volunteers.
