LAW OF UKRAINE

of April 24, 2012 No. 4661-VI

About introduction of amendments to the Tax Code of Ukraine and some other laws of Ukraine concerning streamlining of tax declaring

The Verkhovna Rada of Ukraine decides:

I. Make changes to such legal acts of Ukraine:

1. In the Tax code of Ukraine (The sheet of the Verkhovna Rada of Ukraine, 2011, Art. No. No. 13-17, 112):

Subitem 49.18.4 of Item 49.18 of Article 49 to add 1) with the words "except the cases provided by the Section IV of this Code";

Subitem 166.1.2 of Item 166.1 of Article 166 to add 2) with the words "which moves till December 31 inclusive the tax year following for reporting";

Paragraphs of the first and second of Item 167.1 of Article 167 to state 3) in such edition:

"167.1. The rate of tax constitutes 15 percent of taxation basis concerning the income added (paid, provided) (except the cases determined in Items 167.2 - 167.5 these Articles), including, but is not exclusive in the form of the salary, other incentive and compensation payments or other payments and remunerations which are charged it (are paid, provided) to the payer in connection with employment relationships and under civil agreements; prize in the state and non-state cash lottery, the prize of the player (participant) received from the organizer of gambling.

If the taxation basis which is determined taking into account regulations of Item 164.6 of Article 164 of this Section concerning the income specified in paragraph one of this Item in calendar month exceeds the tenfold size of the minimum wage established by the law for January 1 of accounting tax year the rate of 17 percent is applied to the amount of such exceeding";

4) in the paragraph the second Item 174.3 of Article 174:

exclude the words "is included heirs of total annual earnings of the taxpayer";

add the paragraph with the words "and also other heirs-residents who paid tax before notarial certification of objects of inheritance";

The subitem "є" Item 176.1 of Article 176 to state 5) in such edition:

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