Poroshenko Freed ATO Charity From Taxation

President of Ukraine signed the Law Poroshenko # 1668-VII "On Amendments to the Tax Code of Ukraine regarding certain issues of taxation of charitable aid."

According to the law, for the duration of the anti-terrorist operation, charitable assistance given for the needs of its implementation, shall be exempt from personal income tax, Censor.NET reports citing the press service of the Head of State.

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The law, proposed by the President after the meeting with volunteers in August, determines that the amount of funds received by charity providers - natural persons (who are recorded in the Register of anti-terrorist operation volunteers) to bank accounts for the provision of charitable assistance to the ATO shall not be included in the total monthly (annual) taxable income.

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In addition, temporarily, for the duration of ATO, payers of corporate income tax can include into "miscellaneous expenses" the money or value of special personal protective equipment (helmets, bulletproof vests manufactured according to military standards), surveillance equipment, medicines and medical devices, personal care products, foodstuffs, clothing supplies, as well as other goods, works, services provided according to the list, which is determined by the Cabinet of Ministers of Ukraine voluntarily transferred for the needs of the ATO.

The law also regulates the establishment of a Register of the anti-terrorist operation volunteers.