14 June 2010, 14:13
Pursuant to the bill (Reg. No. 6024), to the forms of state support of charity refers conferment of honourable titles and state decorations of Ukraine to the charity providers, establishment of tax privileges to the charity providers and charity organizations for the philanthropic assistance rendered, employment of other events of moral and material encouragement envisaged by the applicable legislation.
Pursuant to the bill, the general monthly or annual taxable income shall not include the sums or the cost of property voluntarily transferred or received by a tax payer as a philanthropic assistance in conformity with the applicable legislation at the rate not exceeding five per cent of the monthly taxable income of a tax payer.
The Committee members stressed that the Ministry of Finance of Ukraine objected to the amendments since they would inflict budget losses in the amount of UAH 34,7 billion. Moreover, the bill fails to present corresponding compensatory financial-economic calculations as required by the applicable legislation.