LETTER OF THE STATE TAX SERVICE OF UKRAINE

of September 30, 2011 No. 2793/6/15-1415

The State Tax Service of Ukraine considered the letter concerning procedure for the taxation of the income with source of their origin from Ukraine in the form of insurance payments within insurance contracts or risks reinsurance for benefit of nonresidents in the context of provisions of the Tax code of Ukraine and reports.

By Item 160.1 of Art. 160 of the Tax code of Ukraine (further - the Code) it is determined that any income gained by the nonresident with source of their origin from Ukraine is assessed with tax according to the procedure and at the rates determined by this Article. The same Item determines the list of the income of nonresidents with source of their origin from Ukraine which are assessed with tax by the specified rules.

According to item 160.2 of Art. 160 of the Code resident or permanent mission of the nonresident which perform for benefit of the nonresident or person authorized by it (except permanent mission of the nonresident in the territory of Ukraine) any payment from income with source of its origin from Ukraine gained by such nonresident from carrying out economic activity (including into accounts of the nonresident which are operated in national currency), except the income specified in Items 160.3 - 160.6 these Articles, shall hold tax on such income specified in Item 160.1 of this Article at the rate in the amount of 15 percent of their amount and at their expense which is paid to the budget during such payment if another is not provided by provisions of international treaties of Ukraine with the countries of the residence of persons for benefit of which payments are performed, taken effect.

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