LETTER OF THE STATE TAX SERVICE OF UKRAINE

of February 19, 2013 No. 2549/6/15-5215

The State Tax Service considered the letter of Ltd company concerning the taxation of transactions on alienation of securities and reports.

According to subitem 213.1.7 of Item 213.1 of article 213 of the Tax Code of Ukraine (further - the Code) transactions on sale, exchange or other methods of alienation of securities where there is transition of the property right to securities, and transactions to derivatives, except transactions which are performed in the interbank market of derivatives, are the taxation objects the excise tax.

By Item 214.8 of article 214 of the Code it is determined that taxation basis of the extraordinary tax on transaction on alienation of securities and transactions with derivatives is the contractual cost of securities or derivatives determined in source accounting documents by any transaction on sale, exchange or other methods of their alienation.

Tax amounts are transferred into the budget by the tax agent within 10 calendar days which come behind the last day of the corresponding deadline provided by this Code for submission of the tax declaration for tax period which equals to quarter.

Tax agent on the exchange and off-exchange transactions determined in subitem 213.1.7 of Item 213.1 of article 213 of this Code is the corresponding dealer in securities (licensee), including bank which performs such transactions based on the agreement and shall charge, hold and pay the excise tax to the budget from name and at the expense of person from the income which is paid to such person, to keep tax accounting, to submit tax statements to tax authorities and to bear responsibility for violation of its regulations according to the procedure, provided by this Code (Item 219.2 of the Code).

According to the letter of Ltd company payment under agreements for securities is performed by installments during 2012 - 2013, the property right to securities under the delivery-acceptance certificate will pass to the buyer of securities after complete payment of their cost in 2013.

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