01 January 2024, Monday, 17:52 190

National Revenue Strategy text lacks measures to tax income on cards of individuals - Finance Ministry

Editor: Tetiana Herasimova

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The National Revenue Strategy of Ukraine does not contain measures to tax the income on the cards of individuals.

This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.

It is reported that any event planned for implementation is supported by a description of the problems, as a justification for the need for each reform.

In the text of the National Revenue Strategy there are no measures to tax the proceeds to the cards of individuals.

Incorrect conclusions on this issue could be drawn on the basis of information from section 4.3.1 "Reform of the simplified taxation system."

In this section it is noted: "All income of individuals received outside the limits of business activity, except for those directly provided for by the Tax Code of Ukraine, will be subject to taxation at the total rate of personal income tax provided for by the Tax Code of Ukraine."

This means that:

The text does not contain words about "any proceeds to the individual's card";
The phrase on the requirements for "taxation of income received outside of business" reflects the general principles of taxation, which already exist in the current tax legislation (in section IV of the current version of the Tax Code of Ukraine).

The Ministry of Finance emphasizes that any tax policy reform requires detailed changes to the tax legislation.

Any fundamental reform (especially as complex as changing the rules for taxing the income of individuals) is simply impossible without discussions with the public, business, and relevant authorities.

As Ukrainian News Agency earlier reported, the National Revenue Strategy provides for the unification of the 2nd and 3rd groups of individual entrepreneurs and a reduced list of activities for the 1st group.