Ukrainians will have to pay tax on gifts

Who will pay tax for gifts.

According to the laws of Ukraine, a gift taxed if its value exceeds 25% of the minimum wage. But not all Ukrainians should pay tax on a gift. Whom this will affect, reports the Chronicle.info with reference to TSN.

According to the junior lawyer of the law firm «Tarasov and partners» Andrey Zhurbenko, article 165 of the Tax Code of Ukraine states: funds or property received as a gift are taxed when their value exceeds 25% of the minimum wage. For 2022, this is UAH 1625.

Recall that from October 1, 2022the minimum wage should increase to UAH 6700. And then the value of the taxable gift will also increase. This amount will amount to UAH 1675.

Gift tax: who pays and how much

If such a gift is received by an ordinary person, then, according to the lawyer,&nbsp ;he won't pay tax. More often than not, no one knows about such receipts, because they are not reflected anywhere in tax documents.

So who will be affected by the gift tax? Usually legal and individual entrepreneurs become its payers.

You need to pay 19.5% of the funds received as a gift or the cost of other property. This includes 18% personal income tax and 1.5% military tax.