{"id":8037,"date":"2024-04-05T11:20:49","date_gmt":"2024-04-05T08:20:49","guid":{"rendered":"https:\/\/gls-law.company\/?page_id=8037"},"modified":"2024-09-24T11:20:38","modified_gmt":"2024-09-24T08:20:38","slug":"filling-out-income-declaration-individuals","status":"publish","type":"page","link":"https:\/\/gls-law.company\/en\/filling-out-income-declaration-individuals\/","title":{"rendered":"Filling out the income declaration of individuals"},"content":{"rendered":"\t\t
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Tax Declaration for Individuals: Services by GLS Law Company<\/h2>\n

Upon receiving investment income or dividends from shares of international enterprises, an individual is obligated to pay tax to the state. An annual declaration describing the property status and income for the past year is filed for reporting the earned income and paid taxes. The reporting period is until May 1 of the following year, and taxes must be paid independently by August 1 if not withheld at source. If you need a tax declaration for individuals’ income, seek the services of GLS Law Company’s lawyers. Our professionals will answer all your questions, prepare the necessary documents, fill in, and submit the declaration to the tax authorities within the required timeframe.<\/p>\n

Tax Declaration for Individuals: Who Needs to File<\/h2>\n

A tax declaration for individuals must be filed if you have received income from:<\/p>\n

    \n
  • securities or the sale of corporate rights;<\/li>\n
  • dividends from investments in mutual funds or the sale of investment certificates.<\/li>\n<\/ul>\n

    Income from investing in P2P loans, the sale of movable or immovable property, and non-targeted charitable assistance also need to be declared.<\/p>\n

    Tax Rates<\/h2>\n

    For the sale of shares and investment certificates, the tax declaration implies the payment of:<\/p>\n

      \n
    • a military levy of 1.5%;<\/li>\n
    • personal income tax of 18%.<\/li>\n<\/ul>\n

      The tax is levied on the income, that is, the difference between the purchase price of the asset and its sale. In the case of receiving dividends from shares and investment certificates, the 1.5% military levy remains relevant, but the tax rate is reduced to 9%. An individual’s declaration is not required if the income received from selling assets is within the limit of 3,473 hryvnias. Investing in foreign companies, it’s crucial to avoid double taxation, as it would entail paying taxes both in Ukraine and the country where the income was received. To prevent this, ensure that a double taxation avoidance agreement is in place between Ukraine and the country of the foreign company’s residence.<\/p>\n

      Penalties for Non-Submission of an Individual’s<\/h2>\n

      Declaration Failing to provide the document on time may result in the state authorities imposing a fine as a percentage of the tax liability. What happens if you ignore the declaration of individuals’ incomes in Ukraine or submit it late? If the tax declaration for individuals was submitted late or not at all, a fine of 340 hryvnias is imposed for the first violation. For each subsequent violation within a year, a fine of 1,020 hryvnias is payable. Besides the responsibility before the tax inspection, there are administrative fines for late submission, non-submission, or providing incorrect data. A warning or fine for the first violation will be 51-136 hryvnias, and for a repeat offense – 85-136 hryvnias. The penalty amount for non-payment of tax within the deadlines set by the tax code depends on the overdue period:<\/p>\n

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      • up to 30 calendar days — 5% of the overdue amount;<\/li>\n
      • more than 30 calendar days — 10% of the overdue amount.<\/li>\n<\/ul>\n

        If the controlling body independently finds tax liabilities that an individual did not declare or pay, they are subject to a 10% fine on the amount determined by the controlling body.<\/p>\n

        Tax Declaration for an Individual: What We Offer<\/h2>\n

        If you need to submit a declaration of incomes for individuals to the tax service, turn to the professionals at GLS Law Company. Our lawyers offer comprehensive services related to:<\/p>\n

          \n
        • Qualified consultations in taxation.<\/li>\n
        • Preparation of documents necessary for declaring incomes.<\/li>\n
        • Correct filling in of the declaration.<\/li>\n
        • Submission of the report to the tax service.<\/li>\n
        • Accompanying you at all stages of the procedure.<\/li>\n<\/ul>\n

          The cost of the service may vary within a certain range, as prices depend on the complexity of the task and the specifics of your situation.<\/p>\n

          Declaration of Incomes for Individuals: How to Order the Service<\/h2>\n

          Contact the professionals at GLS Law Company if you are interested in a declaration of incomes for individuals. Our lawyers will correctly fill in the necessary documents, submit the report to the regulatory bodies, and answer any of your questions during a personal consultation. Leave an application on our website, by phone, or via email. If you need a declaration of an individual’s income, you can also contact our specialists through messengers like Viber, Telegram, and WhatsApp.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

          Filling out the income declaration of individuals Service for filling out the income declaration of individuals LEAVE A REQUEST Tax Declaration for Individuals: Services by GLS Law Company Upon receiving investment income or dividends from shares of international enterprises, an individual is obligated to pay tax to the state. An annual declaration describing the property […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"class_list":["post-8037","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/pages\/8037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/comments?post=8037"}],"version-history":[{"count":4,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/pages\/8037\/revisions"}],"predecessor-version":[{"id":8042,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/pages\/8037\/revisions\/8042"}],"wp:attachment":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/media?parent=8037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}