КУА "Укрсиб Эссет Менеджмент" : Taxation

The taxation question is important as it influences the final sum of the income which is received by the investor. Thus it is necessary to understand that while means of investors are in Fund - they are not taxed. The income of investors is assessed when investors receive income from :
sale of securities of Fund to the third party (not to the Fund);
sale of securities of Fund to the same Fund (for example, at the repurchase of securities by Fund at its closing, upon investor’s request at a corresponding resolution of the Supervisory board of Fund, at any date for stock with an open end, at dates defined by the prospectus for emissions for interval funds),
at payment of dividends by the corporate investment Fund in case of an appropriate resolution adopted on general meeting of shareholders of Fund
In case of sale of Fund’s securities the difference between the price of their purchase and price of their sale will be assessed. In case of income from dividends – assessed will be the sum of dividends received by the investor.

Tax Rate and taxation order differ subject to the condition who the investor is (physical or legal body) and in what of the cases set forth above the investor has received the income. In case when the investor is the legal body, its income from investments into fund is assessed under the rate of 30 %. The order of incomes taxation of legal bodies from operations with securities of funds is regulated by the Law “On enterprise profits taxation”
Order of taxation of incomes of investors-physical persons is regulated by the Law of Ukraine “On Income Tax on Individuals” and “On enterprise profits taxation” (in the part of order concerning definition of taxation base).
Income received in a form of Fund’s dividends (see paragraph 3 above) and the income received from sale of securities of Fund to the third party (see paragraph 1 and 3 above) are taxed under the rate of 15 %.