Ukrainians who receive transfers to their bank cards must report these funds in their tax returns and pay taxes if they are income. This was reported on the tax hotline, reports “Telegraph”.
What can be “stuck” in tax for
Even if a friend, brother or neighbor gave you money, it can already be considered income. Therefore, you need to file an annual tax return, calculate and pay tax – 18% personal income tax plus military duty. Currently, it is 1.5%, but since December 2024 it has increased to 5%.
Any income can be subject to taxation if it was not made by an official tax agent (entrepreneur or company).
Who does not pay and how to avoid fines
Only money transfers from close relatives – parents, children, husband or wife – are exempt from tax, and then only if it is an official gift or inheritance. To avoid any questions, you should indicate “gift” in the purpose of the payment and have written confirmation (gift agreement, etc.).
Also, the return of a loan is not taxable – if you borrowed money and returned it, it is not considered income. But if you do not prove that it was a loan, the tax office may treat it as income.
When and how to file everything
The 2024 tax return must be filed by April 30, 2025, and taxes must be paid by July 31. You can submit documents through the Taxpayer’s Electronic Cabinet. After that, the tax office sends the details – and you transfer the tax either through a bank or online.
What will happen if you “score”
A fine is provided for late payment – 3% of the amount, and a penalty is also charged for each day of delay. If the tax office detects a systemic violation, there may be deeper checks, restrictions on opening a business, loans, and in extreme cases, a crime.
And cashback and deposits?
Cashback, if you withdraw it to a card, is also considered income. Therefore, tax is automatically deducted from it – 18% + 5%. A year ago, it was 19.5%, because the military levy was lower then.
But bank deposits are also taxed, but by the bank itself. You receive a “clean” amount – with taxes already deducted.
