Ukrainians can refund part of the paid income tax if they have an official salary and confirmed expenses for education, treatment, housing or other specified categories. To do this, you need to submit a declaration with documents by the end of next year, otherwise the right to a refund expires. As OBOZ.UA informs, the State Tax Service of Ukraine (STSU) reminded about this. The PromPolitInform portal reports.
Individuals who receive an official salary in Ukraine have the right to a tax discount.
The key condition is that personal income tax must be paid from the income, because it is part of this tax that can be refunded. The tax discount actually reduces the annual taxable income by the amount of confirmed expenses. Accordingly, the state returns part of the funds already paid. The tax deduction can include expenses for a number of socially important areas:
education – payment of tuition in kindergartens, schools, colleges and universities (both for yourself and for close relatives);
housing – payment of interest on a mortgage loan;
medicine – expenses for treatment, including assisted reproductive technologies;
insurance – contributions under long-term life insurance or pension insurance contracts;
charity – donations to non-profit organizations (within established limits).
Some of the expenses that are already necessary can be partially compensated through the tax mechanism. To receive a tax deduction, all expenses must be documented. In particular, it is necessary to keep:
checks and receipts;
contracts with service providers;
cash documents.
All documents must contain clear information about the amount of expenses and the date of their occurrence. To receive a tax deduction, you must submit an annual declaration of property status and income. It should indicate the expenses that give the right to a discount, and attach copies of supporting documents. It is important to consider:
the declaration must be submitted by December 31 of the year following the reporting year;
the amount of the discount cannot exceed the annual income in the form of salary;
additional restrictions apply to some expenses.
The original documents must be kept for the period specified by law.The right to a tax discount is not carried over to subsequent years. If a citizen does not submit a declaration on time, the opportunity to return part of the taxes for this period is lost.
As previously reported, Ukrainian individual entrepreneurs (IEOs) must have time to pay taxes and military duty by March 20. The amount of the single tax differs for different groups of IEOs.
