LETTER OF STATE TAX ADMINISTRATION OF UKRAINE

of December 19, 1996 No. 17-0211/10-1621

About the taxation the income tax of the income of the citizens paid by commercial banks for trust management of their means

The State Tax Administration of Ukraine and State Tax Administrations in the Autonomous Republic of Crimea, areas, Kiev and Sevastopol perform the Main office of Privatbank commercial bank (Dnipropetrovsk), branches and regional governments of this bank concerning correctness of charge, completeness and timeliness of budget contribution of the income tax from the income of citizens for trust management of their means, and reports the following.

The main office CB Privatbank (Dnipropetrovsk) according to the contracts orders for placement of their privatization papers signed with citizens annually charges and lists to the branches and regional government of means and sends data on income distribution of citizens principals. However income tax withholding and its budget contribution is performed by branches and regional governments only during the appeal of principals to branch (regional government) behind income acquisition and thus Articles 11, 12 Decrees of the Cabinet of Ministers of Ukraine of December 26, 1992 N 13-92 "About the income tax from citizens" according to which the profitable tax on noted income shall keep in sources of payment are violated and be transferred into the budget according to the procedure, stipulated in Clause the 10th this Decree with the further message to tax administrations in the place of residence of citizens of data on f.n 2 about paid amounts of the income and the amounts of the tax withheld from them.

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