LETTER OF THE MAIN STATE TAX AUTHORITIES OF UKRAINE

of November 17, 1994 No. 14-212/08-259

About release from the taxation

The main state tax authorities of Ukraine at the request of the Prime Minister of Ukraine V. Masol of 12.10.94 N 41-C-16343/30 considered your letter concerning release from the taxation of sponsor's means (donations) received by private editions which take up culturological and ethnic questions and profits of these editions and report.

The law of Ukraine of February 21, 1992 N 2146-XII "About the taxation of the income of the companies and organizations" with the made changes and additions provides release from the taxation of means from donations of citizens. Release from the taxation of means from donations of other subjects of business activity is not provided. Income gained from use of the specified means is subject to the taxation in accordance with general practice.

Release from the taxation of donations of the legal entities and physical persons transferred for implementation of cultural activities to organizations, institutions and the organizations of culture which purpose of activities is not profit earning is provided in the bill of Ukraine "About the income tax of the companies and organizations". In case of use of the specified funds for the purposes which are not provided by charters (provisions) of the organizations they are included the taxation object. Release from the taxation of profit of private editions is not provided.

Adoption of the offered bill will give the chance to establish such procedure for the taxation.

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