No one likes to pay taxes and Ukrainians are not an exception. The latest poll from Segodnya.ua shows that the overwhelming majority of Ukraine’s citizens are not too keep to share the inherited assets with the state.
Death and taxes
Even though we all know about the two inevitable things in life, no one likes to part with money in favour of the government. Ukrainians like all people would prefer not to pay duties on the inheritance, a poll by Segodnya revealed.
- The vast majority of respondents keenly ticked the box that no one should be paying money to the state for their own assets, since it’s absurd (86%).
- 12% of respondents believe that while spouse, parents, kids, and siblings should be exempt from duties, other heirs need to share their windfall with the state.
- Only 2% believe that inheriting assets should always attract a payment to the state.
3515 people voted in the poll when we checked the results, which is quite a high level of participation for this online survey.
Which assets are liable for inheritance tax?
Basically all property of the deceased except chattels is in the pool:
- Real estate
- Cars
- Art
- Jewellery
- Shares
- Intellectual property
- Cash or bank deposits
- Insurance premiums due
Who has to pay such taxes in Ukraine?
Inheritance duties in Ukraine are paid based on family ties. Closest relatives (spouse, parents, kids, step-kids) don’t have to pay anything. This group is called ‘first level relatives’. Since 2017 relatives of the ‘second level’ (grandkids, grandparents, siblings) are also free from any contributions.
Other relatives and non-relatives have to pay 5%, as well as to hire a certified professional to value the assets they inherited.
Ukrainians who inherited assets abroad have to pay 18% tax. Anyone who lived on the territory of Ukraine for longer than 183 days is viewed as a resident for these purposes. Even the ones who live abroad but are still citizens of Ukraine, they still have to pay 18%.
Foreign residents who inherited assets in Ukraine are also liable to pay 18% and hire a professional expert to determine the financial value of their share.
We reported recently that Ukrainian monthly salaries broke the psychological barrier of 9,000 hryvnia, which is only about USD 321. The country has been found the poorest in Europe in 2018.
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