Property and income declaration is submitted in the new form in 2024

New form of property and income tax declaration (hereinafter – tax declaration) and instructions for filling it in are in effect from 01.01.2024.

New tax declaration form provides for separation of tax liabilities from the personal income tax (hereinafter - tax) determining the minimum tax liability of individuals-entrepreneurs (except for individuals who chose simplified taxation system) – owners, tenants, users of other conditions (including emphyteusis conditions) of land plots classified as agricultural land.

Please note that tax payment determining the minimum tax liability by individuals-entrepreneurs (except for individuals who chose simplified taxation system) is carried out under the budget classification code "11010500 – personal income tax paid by individuals based on results of the annual declaration".

In addition, significant changes have been made to procedure for calculating amount of tax to be refunded from the budget in connection with use of a right to tax discount for expenses incurred according to Paragraph 166.3 Article 166 Section IV of the Tax Code of Ukraine (hereinafter – Code), in addition to the expenses specified in Sub-paragraph 166.3.10 Paragraph 166.3.10 Article 166 Section IV of the Code (Annex F3 to declaration).

Reminder! Updated editions of the new form of property and income tax declaration and instructions for filling it out were approved by Order of the Ministry of Finance of Ukraine № 467 as of 28.08.2023 "On approval of changes to the form of property and income tax declaration and Instructions on filling out property and income tax declaration", registered in the Ministry of Justice of Ukraine on 18.10.2023 under № 1817/40873.

Regulatory legal basis and examples of filling out tax declarations can be found on web portal of the State Tax Service in banner "Declaration campaign 2024".