Ukrainian president signs law exempting private schools, preschools from property tax

16:52, 08.08.2015 1 min read

Ukrainian President Petro Poroshenko has signed law No. 654-VIII which amends the Tax Code of Ukraine in order to create favorable conditions for the provision of education services by preschool and general education institutions of non-state ownership, the presidential press service reported.

According to the law, preschool and general education institutions irrespective of their form of ownership and their sources of financing, cultural, scientific, educational, healthcare, social protection, sports institutions fully funded by the national or local budgets are exempted from paying company property tax.

Buildings of preschool and general education institutions irrespective of their form of ownership and the source of financing, that are used to provide general educational services are exempted from paying tax on property other than land parcels.

The Verkhovna Rada passed this bill on July 17. The law takes effect from the first day of the month that follows the month when it was published.