Ukraine: Living There - Tax Issues

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Living There

Residents are taxed at a flat rate of 15% on all their income such as employment income, business and professional income, dividends, interests, royalties, income from immovable property, and capital gains. Residents are taxed on their world-wide income usually withheld at source except in the case of business and professional income wherein the tax is levied by self-assessment.

Residents can also avail of several allowances such as:

• donations to charitable organizations provided that total donations is more than 2% but less than 5% of the total taxable income for that tax periodeducational expenses incurred by the taxpayers incurred by the taxpayer and his immediate relatives up to UAH740 (€109) per month medical expenses incurred by the taxpayers and his immediate relatives except expenses for cosmetic surgery not related to medical treatment and certain dental care
• life and pension premiums paid by the taxpayer up to UAH740 (€109) per month for the insurance of the taxpayer and 50% of that amount or UAH370 (€54) any of his immediate relatives

Individuals who are earning salary income less than UAH740 (€109) from a single source are also entitled for a monthly personal allowance of UAH200 (€30) for 2007.

Ukraine - more data and information

• Lawyers (attorneys) with property law practices in Ukraine

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