LAW OF UKRAINE

of October 2, 2012 No. 5413-VI

About introduction of amendments to the Tax Code of Ukraine concerning enhancement of the taxation in case of alienation of vehicles

The Verkhovna Rada of Ukraine decides:

I. Bring in the Tax code of Ukraine (Sheets of the Verkhovna Rada of Ukraine, 2011, Art. No. No. 13-17, 112) such changes:

1. In Article 173:

Paragraph two of Item 173.1 to replace 1) with three paragraphs of such content:

"The income from sale (exchange) of object of personal estate (except cars, motorcycles, mopeds) is determined proceeding from the price specified in the agreement of purchase sale (exchange), but not below the estimated value of this object determined according to the law.

The income from sale (exchange) of the car, the motorcycle, the moped is determined proceeding from the price specified in the agreement of purchase sale (exchange), but not below the average market cost of the corresponding vehicle or is not lower than its estimated value determined according to the law (at the choice of the taxpayer).

The average market cost of cars, motorcycles, mopeds is determined by quarterly central executive body which provides forming of state policy in the field of economic development, according to the procedure, established by the Cabinet of Ministers of Ukraine (for each brand, model of such vehicles taking into account year of release and run, based on the analysis of the actual selling prices of the corresponding vehicles), and will be promulgated on the official website of this body in the mode of open entry to the 10th following reporting quarter";

Item 173.2 to state 2) in such edition:

"173.2. As exception of provisions of Item 173.1 of this Article, income gained by the taxpayer from sale (exchange) within accounting (tax) year of one of objects of personal estate in the form of the car and/or the motorcycle, and/or the moped is not subject to the taxation.

Income gained by the taxpayer from sale (exchange) within accounting (tax) year of two and more objects of personal estate in the form of the car and/or the motorcycle, and/or the moped is subject to the taxation at the rate determined by Item 167.2 of article 167 of this Code";

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