LETTER OF THE STATE TAX SERVICE OF UKRAINE

of September 27, 2012

Since January 1, 2012 the simplified taxation system, accounting and the reporting is applied to subjects of managing according to the procedure, No. 2755VI established by the Tax code of Ukraine of December 2, 2010 with changes and amendments (further - NKU), taking into account the features provided by 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".

According to subitem 1 of item 292.1 of Art. 292 of NKU the income of the payer of the single tax for the physical person - the entrepreneur is income gained during the tax (reporting) period in cash (cash and/or non-cash); to the material or non-material form determined by item 292.3 of this Article. At the same time the income does not join the passive incomes gained by such physical person in the form of percent, dividends, royalty, insurance payments and compensations, and also income gained from sale of personal and real estate which belongs on the property right to physical person and is used in its economic activity.

According to Item 292.6 of article 292 NKU the date of receipt of the income is receipt date of means to the payer of the single tax in cash (cash or non-cash) form, signature date the payer of the single tax of the delivery-acceptance certificate of free of charge received goods (works, services).

Paragraph 8 of subitem 14.1.257 of Item 14.1 of article 14 NKU returnable financial aid - the amount of means which arrived to the taxpayer in use under the agreement which is not providing charge of percent or provision of other types of compensations in the form of payment for use of such means also is obligatory to return.

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