Draft tax reform includes collection of UAH 25,000 tax from cars worth over UAH 1 mln
The draft law on tax reform agreed by the National Reforms Council of the Ukrainian President foresees the replacement of the vehicle tax of UAH 25,000 imposed on cars with engines of over 3,000 cubic centimeters with taxation of cars worth over UAH 1 million and no older than five years.
The rate of the tax did not change – UAH 25,000.
According to the document, the taxation rate is defined by the average market price of a car, taking into account the model, brand, production year, type and volume of engine's cylinders, type of transmission and mileage (which is not taken into account today).
The tax collection would be suspended if a tax is stolen.
Information on the average market cost of cars will be posted on the website of the Economic Development and Trade Ministry of Ukraine.
