Chernivtsi: Sold the car – declare the income
State tax Inspectorate in Cherneta recalled that the income received by an individual from the sale or exchange during the year, one of the objects of movable property in the form of a passenger car, motorcycle, or moped that is not taxed. If a citizen sells such movable property twice or more within one year or sells the truck, the resulting income will be taxed at the rate of 5 per cent. The amount of such income included in total annual taxable income and accordingly subject to Declaration by submission in the fiscal service of the Declaration on property status and income. It should be done before may 1, 2016 at the place of registration of the declarant. Income from the sale of such a vehicle is defined proceeding from the price specified in the contract of sale, but not below the average cost of the respective vehicle or below its appraised value determined in accordance with the law. The taxpayer can select one of the ways to determine the value of the property disposed of, and that is to use the estimated cost, determined according to the law, or the average market value of the vehicle. In this case, the average market value of the vehicle can be calculated independently on the website of the Ministry of economic development, taking into account the brand of car, the year of its release on the mileage at the date of sale. This was reported in the Chernivtsi city CouncilÏåðåâåäåíî ñåðâèñîì "ßíäåêñ.Ïåðåâîä÷èê": translate.yandex.ru.
Source: http://uzinform.com.ua/
