According to the Explanatory Note, the Bill (Reg. No.1289) defines "the procedure of legalization of income obtained by natural persons and legal entities, which was not subjected to taxes, duties and obligatory payments to the budgets and State funds-in-trust, or if obtainment of such income was attended by violation of legislation".
Pursuant to the Bill, legalization is conducted within one year, and starts in a month, after the said Law comes into force. The subjects of legalization are obliged to submit an income declaration to the Ministry of Justice of Ukraine. The subject of legalization receives a State certificate on legalization of income, which exempt him from criminal and administrative liability for iolat6ion of legislation by its obtainment.
However, the Law on Income Legalization can be successfully implemented only as a system with other actions of economic, administrative, political or other nature.