Now, cars can be sold or exchanged without any tax

On January 1, 2013 the provisions of the Tax Code on taxation of income from the sale of cars, motorcycles and mopeds came into force. Regulations provide for the abolition of the tax on the sale or exchange of one car and the introduction of a 5% tax on gains from the sale or exchange of two or more cars.

This was reported by the press service of the State Tax Service of Ukraine in Kyiv. According to the report, this provision of the law also covers the sale and exchange of motorcycles and mopeds. Earlier, the income from the sale or exchange of a single vehicle (motorcycle or moped) was subject to 1% tax.

The campaign to declare income has launched in Ukraine, and income statements will be accepted until May 1, 2013. As of July 1, 2012, 624.6 thousand citizens of Ukraine filed with the STS declarations of property and income received in 2011. The total amount of declared income was 36.6 billion hryvnias. With the opening of the Center for certification of electronic signature keys, which began operation in May 2012, an opportunity to submit declarations electronically appeared.

Source: UNIAN