What does this type of tax control of Ukrainians imply? According to information from the Ministry of finance, this is "a comparison of the real way of life of an individual with the available tax information on the income he received and taxes paid from them." We conclude that monitoring official declared income and actual expenses are being introduced, providing information on a Ukrainian's actual income level.
Control methods that have come into force
- Fixing purchases in excess of the declared amount of income (for example, a car or apartment with an annual income of $13.000);
- Investigation of the physical and intellectual property of a Ukrainian;
- The obligation of financial institutions to transfer to the departmental authority data on payments that do not correspond to the declared income of the beneficiary.
- Personal savings with a total value of less than $14.500;
- Residential use less than 120 m².
Until September 1, every citizen of Ukraine who owns income subject to the declaration is obliged to submit a zero declaration. In case of refusal from the procedure, the citizen will be obliged to pay:
- Real estate, foreign currency, intellectual assets, property of legal entities 5%;
- Domestic government loan bonds 2.5%;
- Other property 10%.
“This will not affect 95% of Ukrainian citizens, who, relatively speaking, have 15 thousand dollars in savings and an ordinary apartment. Even if they cannot explain where they got this money, it will not affect them," commented the minister of finance of Ukraine, Serhii Marchenko.