LAW OF UKRAINE

of December 3, 2019 No. 323-IX

About introduction of amendments to the Tax Code of Ukraine in connection with ratification of the Agreement between the Government of Ukraine and the Government of the United States of America for improvement of accomplishment of tax rules and application of provisions of the Law of the USA "About the tax claims to foreign accounts" (FATCA)

The Verkhovna Rada of Ukraine decides:

I. Bring in the Tax code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2011, Art. No. No. 13-17, 112) the following changes:

1." To add Item 1.3 of Article 1 after words of "the Law of Ukraine "On system of guaranteeing household deposits with words of "conducting complex checks for the purpose of detection of financial accounts".

2. In Item 14.1 of Article 14:

add subitem 14.1.122 with the paragraph the fifth the following content:

"If according to requirements of the international treaty signed by Ukraine which contains regulations on exchange of information for the tax purposes which consent to be bound is provided by the Verkhovna Rada of Ukraine or the interdepartmental agreement signed on its basis and of this Code the financial agent check and establish what resident of the state is the owner or the controller of the owner of the financial account, provision of this subitem are applied in the part which is not contradicting rules of the international treaty";

add with subitems 14.1.146-1, 14.1.257-1 and 14.1.258-1 of the following content:

"14.1.146-1. the accountable account - the financial account which corresponds to one of the following criteria:

the owner of the financial account is physical nonresident person;

the owner of the financial account is legal nonresident person or representation of the nonresident - the legal entity;

the owner of the financial account is the legal entity who is not financial agent and the final beneficial owner (controller) of which physical nonresident person is.

For the purposes of of this Code is considered the owner of the accountable account any person who:

a) addresses for provision of services of the financial agent;

b) uses services of the financial agent;

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