PRESIDENTIAL DECREE OF UKRAINE

of March 4, 1998 No. 167/98

About measures for increase in responsibility for calculations with budgets and the state trust funds

For the purpose of ensuring timely and complete receipt of taxes and fees (obligatory payments), non-tax payments in budgets and the state trust funds, strengthenings of tax and payment discipline, and also increase in responsibility of taxpayers and charges (obligatory payments), non-tax payments for execution of the obligations before budgets and the state trust funds and according to item 4 of the Section XV "Transitional provisions" of the Constitution of Ukraine I decide:

1. Enter tax pledge as method of ensuring repayment by the taxpayer of tax debt.

For the purposes of this Decree:

the taxpayer the legal entity, its branches, departments and other separate divisions which do not have the status of the legal entity and also the physical person - the subject of business activity is recognized;

tax debt the amounts of taxes unpaid at the scheduled time, charges (obligatory payments), and also non-tax payments in budgets and the state trust funds, penalty fee, penalties and other sanctions, stipulated by the legislation and applied in accordance with the established procedure for untimely tax payment and charges (obligatory payments), and also non-tax payments in the budgets and the state trust funds which are subject to collection in indisputable procedure are recognized.

2. Determine that from the date of emergence of tax debt all property and property rights of the taxpayer, and concerning the physical person - the subject entrepreneurial deyatelnostiimushchestvo and property rights used by it for implementation of business activity are in tax pledge, except property and property rights which according to the law cannot be pledge subject, and fixed assets of the company recognized in accordance with the established procedure by the state company. Tax pledge does not require written registration. The body of the State Tax Service in three-day time from the date of emergence of tax pledge notifies in writing the corresponding taxpayer on tax pledge of the property belonging to it and property rights.

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