Volume of tax amnesty in Ukraine tops 4.5 bln hryvni

MOSCOW. Aug 26 (Interfax) - The overall amount of amnestied assets stood at 4.526 billion hryvni as of August 25, while tax proceeds transferred to Ukraine's budget totaled 269.2 million hryvni, Ukrainian media said, citing chairman of the Verkhovna Rada's committee on finances, tax and customs policy Daniil Hetmantsev.

A total of 479 declarations, each amounting to 9.4 million hryvni on average, or $236 million under today's exchange rate, were submitted, and the rate of payments to the budget is 5.95%, Hetmantsev said.

The amount of amnestied assets totaled 4 billion hryvni on July 20, and tax proceeds transferred to the country's budget stood at 241.7 million hryvni, the State Tax Service of Ukraine said.

The State Tax Service put the amount of amnestied assets at 3.7 billion hryvni as of July 5, and at 3.25 billion hryvni on March 10.

As reported, on September 1, 2021, Ukraine launched a voluntary one-off asset declaration campaign for individuals, which was initially supposed to terminate on September 1, 2022. Under the tax amnesty law, assets can be declared by paying a reduced fee rate for a one-time voluntary declaration of 5%. The rate for foreign assets was set at 7% before March 1 and 9% after March 1, and at 2.5% for government bonds acquired between January 1, 2021 and June 20, 2022 without being declared.

The Verkhovna Rada passed a bill on August 15, extending the tax amnesty by another six months until March 1, 2023.