Ukrainians may get part of their taxes back for charitable donations: how to receive a tax deduction
Citizens of Ukraine who support charitable organizations can take advantage of the right to a tax deduction and get back part of the personal income tax paid.
As explained by the State Tax Service, a tax deduction allows you to reduce your annual taxable income by the amount of certain expenses, including charitable contributions and donations. As a result, the taxpayer can receive part of the previously paid personal income tax.
This right can be used by individuals who are residents of Ukraine, who during the year made charitable donations to non-profit organizations and received income in the form of wages.
It is important that the organization receiving the assistance was included in the Register of Non-Profit Institutions and Organizations at the time the assistance was provided.
Charitable contributions and donations can be included in the tax deduction, but their total amount must not exceed 4% of the taxpayer's annual taxable income.
To apply for a tax deduction, it is necessary to keep documents confirming the fact of providing charitable assistance. These can be bank receipts, payment instructions, fiscal or sales receipts, bank statements, acceptance-transfer acts of property, and other settlement documents.
Such documents must necessarily include the details of the donor and the recipient of the assistance, the date of payment or transfer of property, as well as the amount of money or the value of the transferred property.
To receive a tax deduction, you need to submit a declaration of property status and income to the tax authority at your place of registration.
The declaration can be submitted in person or through an authorized person, by mail with delivery confirmation, as well as electronically through the Taxpayer's Electronic Cabinet or the "My Tax" mobile application.
In the electronic services of the State Tax Service, the declaration can be generated with partially filled data and immediately attach copies of supporting documents.
The right to use the tax deduction for the reporting year can be exercised until December 31 of the year following the reporting year.
If the declaration is not submitted within the established period, the right to receive the tax deduction is lost and is not carried over to subsequent years.
Subscribe to our Telegram channel t.me/sudua and to Google News SUD.UA, as well as to our VIBER and WhatsApp, our page on Facebook and on Instagram to stay informed about the most important events.
