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Rada provides tax benefits for volunteer organizations
KYIV. Aug 15 (Interfax-Ukraine) – The Verkhovna Rada has provided tax benefits for volunteer and non-profit organizations in Ukraine.
The adoption of relevant bill No. 7364 at the second reading and in general was supported by 281 deputies at the plenary session on Monday.
The document provides for the exclusion from the taxable income of volunteers in the form of expenses of a non-profit organization for medical examination and vaccination, other therapeutic and preventive measures directly related to the provision of volunteer assistance.
The bill also defines the non-taxable expenses of a non-profit organization or a volunteer’s travel agency (for travel, payment of accommodation costs, food expenses, telephone calls, registration of foreign passports, entry permits, compulsory insurance, other documented expenses).
In addition, according to the law, it is determined that it is possible to provide assistance to individuals who have suffered or may suffer as a result of armed aggression by non-profit organizations without violating the requirements of tax legislation.
At the same time, it is proposed not to include public and charitable organizations in the calculation of the amount for registration by the VAT payer of operations for the import of humanitarian aid.
