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.

Yes, the value of any gift item received by the gifted that is not listed in paragraphs 174.2.1 of the Tax Code of Ukraine not including members of the first and second degree relatives, is taxed at the rate specified in paragraphs. 167.2 of the Tax Code of Ukraine, namely 5%.

At the zero rate of tax, the objects of donation received from family members of the first and second degrees of affinity are taxed (paragraphs 174.2.1 and 174.2.1 of the Tax Code of Ukraine).

Therefore, resident individuals who receive a gift from a resident individuals who are not members of first- and second-degree relatives pay a 5% tax on the value of the gift.

It should be noted that any gift received from a non-resident individual is taxed at the rate of 18%.

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