Today, 23 October, 14:30

Ukrainians to Pay Reduced Used Car Sales Tax

Ukrainians to Pay  Reduced Used Car Sales Tax

Revisions to the Tax Code of Ukraine are obtained by Ukrainian Association of Automobile Importers and Dealers. Changes in the form of 10% "discount" are already included in the new Tax Code. 
Ukrainian Association of Automobile Importers and Dealers (UAAI) has gained  revisions to the Tax Code governing the rules at the used-car market. 
The draft Tax Code has two versions of the taxcharge. The first tax rate is  0% of auto sales. A zero rate is for car owners that have not close other similar transactions this year. The second option tax rate is 5%. This category includes all other types of deals, including agreements made in automobile showrooms. So the tax system proposed in the new Tax Code is 10% lower than that of today.  Now, all bargains are charged 15% income tax. 
The representatives of UAAI found a way to prove to officials that the car owner is signing his first deal of the year. Now the number of such purchases and sales will be monitored by the traffic police. "We agreed with the traffic police, which will confirm the number of bargains set by the owner of the car" - said the CEO of UAAI Oleg Nazarenko. 
According to him, after the adoption of the Tax Code the following scheme will run: 
 - a car-owner wishing to sell his car will have to submit a request to the traffic police;
 - after checking the vehicle's owner, the road police office will give a written response about how many transactions with the sale of auto were committed by  the author of the request.
The official response of the traffic police will be the legal basis for determining the tax rate when you make a transaction at the notary.  According to Nazarenko, it remains to determine the time during which the report from of the traffic police will remain in effect.

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