LETTER OF THE STATE TAX SERVICE OF UKRAINE

of January 26, 2012 No. 46/2/17-1210

Concerning application of simplified taxation system

The State Tax Service of Ukraine considered the letter '...' about election of simplified taxation system, accounting and the reporting as legal entities and physical persons - entrepreneurs who perform production and sale of jewelry to merging of the companies of the jewelry industry of "Association of jewelers of Ukraine", and reports.

Since January 1, 2012 the Law of Ukraine of November 4, 2011 No. 4014-VI "About introduction of amendments to the Tax Code of Ukraine and some other legal acts of Ukraine concerning simplified taxation system, accounting and the reporting" became effective (further - the Law No. 4014).

The paragraph the fourth subitem 291.5.1 of Item 291.5 of Article 291 of Chapter 1 of the Section XIV of the Tax code of Ukraine (further - the Code) (in edition of the Law No. 4014) it is determined that physical persons - predprinimateliplatelshchik of the single tax who perform production, production, realization of precious metals and gemstones, including organogenic education cannot be payers of the single tax.

In the Code the concept "production, production, realization of precious metals and gemstones" is not determined. Terms which are applied in the Code and are not determined by it, used in the value established by other laws (Art. 5 of the Code).

The law which determines the legal basis and the principles of state regulation of production, production, use, storage of precious metals and gemstones and control of transactions with them is the Law of Ukraine of November 18, 1997 No. 637/97-BP "About state regulation of production, production and use of precious metals and gemstones and control of transactions with them" (further - the Law No. 637).

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