ITT Group companies are members of:
| Taxation
Regulated under the law of What is taxed? Annual tax income, including investment income, and dividends are taxed. Investment tax is calculated as a positive difference between securities’ selling income and their costs. Securities’ selling is any operation, which leads to taxpayer ownership determination.
These operations are:
Costs of securities purchasing are net securities value (except for paid commission compensation sums and costs of ownership right rewrite, other buyer’s costs related to purchasing). In case of receiving securities as donation or as inheritance purchasing costs are free. Tax rates Investment profit for Ukrainian nonresidents is taxed at the rate of 30% since 01.01.2007. Dividends are taxed at the rate of 5% Who counts and pays taxes? Physical entity as a tax payer makes records of financial securities operation results (calculation and record of received dividends). Such a record is made apart from other incomings and costs. Investment funds’ assets management company (tax agent), shall be obliged to inform state tax administration about companies payments as an income from securities buy-back sales and dividends payments. Asset management company can count and receive natural person income tax independently, in case if it is not stipulated by the contract. This function has its positive and negative sides. In order to choose the most appropriate variant, natural person should take into consideration the following information: - recording of financial securities operations results is made by physical entity - physical entity, who invests into securities of different issuers, including investment funds, and makes purchase and selling operations at the secondary market should take into account information given in section 9.6.4, 9.6.5 of law of Ukraine (peculiarities of securities block value calculation at the moment of their purchasing or selling during 30 days and in case of investment loss) - physical entity’s tax return filing is fulfilled in case if he has only got income from tax agents, who are obliged to provide report on this tax. - in case of tax payment violation, physical entity takes financial responsibility according to effective law of From information listed above the most appropriate variant for natural person is individual financial results record and tax payment. It is convenient to refer tax deduction to asset management company, if buy sell operation is singly used. Non residents’ income with source of its obtaining in Regulated under the law of Securities operation list. Legal entity records financial results of transactions with securities in the context of their different kinds (stocks, investment certificates, etc.) individually. If during accounting period securities’ purchasing costs exceed securities disposal income, negative financial result is transferred to reduction of next period securities operation results. If during accounting period securities disposal income exceeds securities purchase result costs (with negative financial operations results of previous period) - profit is included into gross income. Legal entity is any resident, who receives dividends without their gross income sum, except foreign companies, which have their representatives in Ukraine. Legal entity profit (resident and foreign company with its representatives in Legal entity’s income (non residents) is taxed at the rate of 15%. Those entities, who pay such an income (including asset management companies), are obliged to retain and transmit this tax to budget at the account of legal entity – at time of such a payment - non resident.
According to Cabinet of Ministers of Ukraine resolution №470 as of 06.02.2001, the reason for exemption from income taxing, received in
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