PROPERTY MANAGEMENT. PROPERTY-MANAGEMENT OPERATIONS UNDER THE NEW TAX CODE OF UKRAINE | UBC

The Tax Code of Ukraine separately defined special taxation rules for activity carried out under property-management agreements.

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Profit under each management agreement is taxed on the general basis, and the property manager pays the tax to the budget. Income is paid to the settlor after the profit has been taxed. The property-management fee is included in the manager's income from its own activity.

The Code provided that the central tax authority would establish the reporting form for results of activity under a property-management agreement.

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A taxpayer that received property for management must keep income and expenses from that activity separately from its own accounting and separately for each management agreement.

Related Tax Code materials

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• Taxable object
• Income (gross income)
• Expenses (gross expenses)
• Operating expenses
• Other expenses
• Expenses not taken into account when determining taxable profit
• Fixed assets and depreciation
• Procedure for applying ordinary prices
• Tax differences
• Procedure for carrying forward losses
• Dividends
• Tax accounting during reorganisation
• Securities and securities transactions
• Foreign currency and foreign-currency transactions
• Leases and lease transactions
• Asset management transactions
• Accounting for doubtful debts
• Tax reliefs and exemptions
• Tax holidays
• Corporate profit tax rate