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Sunday, 06 October 2019 19:25

How is the income in the form of donated funds, property, property rights or non-property rights taxed?

How is the income in the form of donated funds, property, property rights or non-property rights taxed?

The objects of gift mentioned in paragraphs. 174.1 of the Tax Code of Ukraine (in particular, real estate, movable property, object of commercial property, property and non-property rights, amount of insurance indemnity, cash, etc.), donated to a taxpayer by another individual, are taxed according to the rules established by Art. 174.2 of the Tax Code of Ukraine for inheritance taxation.

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