03 April 2008, 13:43
The Bill (Reg. No.1289) defines the procedure, under which individuals and legal entities are to legalize their income that is still liable to tax and duties to the budgets and State funds-in-trust.
Thus, pursuant to the Bill, legalization is to be conducted within a year, and starts in a month after the said Law becomes effective. To legalize their income, the subjects of legalization are to submit declarations of income to the Ministry of Justice of Ukraine. A subject of legalization is granted a State certificate of income legalization, which exempts him from criminal and administrative liability for violation of legislation by obtainment of income.
However, the Bill fails to include an exhaustive list of all taxes and duties that are not to be paid by persons who legalized their income. In case the Law fails to include such a list of taxes and duties, it can be treated ambiguously, which will result in misunderstandings concerning application of the Law.
Therefore, the Committee recommends that the author further elaborates the Bill, taking into account the conclusions of the Central Scientific Experts Office of The Verkhovna Rada of Ukraine Secretariate and the Ministry of Finance of Ukraine.