Chernivtsi: As subject to the cancelled loans
Chernivtsi LIGHTS notes that to the total monthly (annual) taxable income of the taxpayer is included, in particular, income in the form of principal (loan) of a taxpayer, the forgiven (cancelled) by the lender on its independent decision, unrelated to the bankruptcy proceedings, before the expiry of the limitation period, if its amount exceeds 50% of one minimum salary (per year). The creditor is obliged to inform the payer of the tax debtor's forgiveness (cancellation) of debt: – or a registered letter with acknowledgment of receipt; – or by concluding a relevant contract, – or notice to the debtor under the signature personally. In addition, it must include the amount forgiven (cancelled) debt in the tax calculation amount of income accrued (paid) in favor taxpayers, at the end of the reporting period in which the debt was forgiven. The debtor shall pay the tax on such income, and reflect them in the annual tax return. In the case of failure to notify a creditor of the debtor for forgiveness (cancellation) of the debt of such creditor shall perform all the duties of a tax agent in respect of that income. According to section 179.7 of the tax code, natural persons obliged before 1 August of the year, coming behind reporting, to pay the amount of tax liability specified in the submitted declarations of income, at the rate of 18%. It should be noted that from 1 January 2016 in accordance with the changes introduced by Law No. 909-VIII, forgiven (cancelled) by the lender in the manner prescribed by the law on the restructuring of the obligations of citizens on loans in foreign currency to purchase a single housing (mortgages), not included in total monthly (annual) taxable income of the tax payer. Therefore, these rules apply to income received by the taxpayer, starting from 01.01.2016, subject to the entry into force of the Law “restructuring of the obligations of citizens of Ukraine on loans in foreign currency, received for the purchase only of property (mortgages)” (bill No. 4004). In addition, the Act of 09.04.2015, No. 321-VIII, which entered into force on 07.05.2015 G. amendments made to the TCU in the part of exemption from taxation transactions be forgiven (cancelled) by the lender to the debtor debt on the financial loan in a foreign currency. Stated that not considered an additional benefit of the taxpayer and not included in the calculation of total monthly (annual) taxable income: – the amount forgiven (cancelled) by the lender equal to the difference between the principal amount of the debt on the financial loan in the foreign currency, determined at official rate of the NBU at the date of change of currency of obligation on the loan from foreign currency into UAH, and the amount of such debt, determined at official rate of the NBU as at 1 January 2014, – the amount of interest, fees and/or penalties (fines) for such loans, Prosenik (cancelled) by the lender in its independent solution, not associated with the bankruptcy procedure, prior to the expiration of the Statute of limitations. The standards of this paragraph apply to financial loans in a foreign currency are not repaid prior to 1 January 2014. The regulations apply to operations of forgiveness (cancellation) by the creditor to the debtor debt on the financial loan in a foreign currency, carried out from 1 January 2015. That is not considered an additional benefit and not included in total monthly (annual) taxable income of the taxpayer the amount forgiven (cancelled) by the lender on its decision before the expiry of the limitation period in the amount of the difference calculated in accordance with clause 8 of subsection 1 of section XX of the TCU. If the decision on cancellation of debt (the loan), the principal amount of the cancelled debt, not the amount of difference, for the purpose of taxation the amount of the canceled debt is considered an extra benefit and is included in total monthly (annual) taxable income subject to the rules of PP. “”, PP. 164.2.17 the GCC. Read more on this subject in the letter of the SFS of Ukraine from 01.04.2016, No. 3323/G/99-99-17-02-03-14. This was reported in the Chernivtsi city CouncilÏåðåâåäåíî ñåðâèñîì "ßíäåêñ.Ïåðåâîä÷èê": translate.yandex.ru.
Source: http://uzinform.com.ua/
