RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of December 27, 2010 No. 1226

About approval of the Procedure for the taxation of the income with source of their origin in Ukraine which is paid to physical person to the nonresident by other nonresident

According to subitem 170.10.2 of Item 170.10 of article 170 of the Tax Code of Ukraine the Cabinet of Ministers of Ukraine decides:

1. Approve the applied Procedure for the taxation of the income with source of their origin in Ukraine which is paid to the physical person - the nonresident by other nonresident.

2. Declare invalid the resolution of the Cabinet of Ministers of Ukraine of December 24, 2003 N 1993 "About approval of the Procedure for the taxation of the income with source of their origin from Ukraine which is paid to the physical person - the nonresident by other nonresident" (The Official Bulletin of Ukraine, 2003, N 52, of the Art. 2781).

3. This resolution becomes effective since January 1, 2011.

Approved by the resolution of the Cabinet of Ministers of Ukraine of December 27, 2010 No. 1226

Procedure for the taxation of the income with source of their origin in Ukraine which is paid to the physical person - the nonresident by other nonresident

1. This Procedure determines the mechanism of the taxation of the income with source of their origin in Ukraine which is paid to the physical person - the nonresident by other nonresident (further - the income).

2. The income paid in non-cash form is enlisted on the separate current account opened by the physical person - the nonresident (further - the taxpayer) in resident bank according to regulatory legal acts of National Bank. Such bank is considered the tax agent and shall charge, hold and pay (to transfer) into the relevant budget from name and at the expense of the taxpayer of tax on the income during implementation of any account transactions from its account, in particular issues of cash, or transfer of the income, on other current account, including in case of acquisition of resident status by it, and also in case of closing of noted account.

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