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The Special Rules for the Taxation of the Income Derived from Transactions with Securities

16.10.2013

For the purposes of corporate profits taxation the securities are divided to those that are quoted on stock exchange and those that are not quoted.
The taxpayer is required to maintain separate accounting for incomes derived from sales of each of two types of securities and expenses incurred due to purchases of the securities.
Where income received from sales of the securities exceeds the expenses incurred due to purchase thereof, the profit is taxed at 10% rate.
Where the loss occurs due to the sale of the quoted securities, it may be carried forward to be utilized against future profits from transactions with such securities without restrictions. However, if the loss is incurred as regards transactions with unquoted securities, the loss carry forward is restricted to three years. It is not allowed to utilize losses received as result of transactions with unquoted securities against profits derived from sale of quoted ones and vice versa.
The above rules do not apply to the issuers of the securities as regards placement, buy-out, settlement etc. as regards such securities.
Losses incurred due to transactions with securities accumulated as at 1/01/2013 may not be carried forward.

There is also a special excise tax imposed on sales of the securities. The rates of this tax vary as following:

– 0% on the amount of sale of derivatives on the stock exchange;
– 0.1% on the amount of sale of securities quoted at the stock exchange where the sale is made outside the stock exchange;
– 1.5% on amount of sale of unquoted securities and sale is conducted outside stock exchange;
– UAH 85 for derivative contract concluded outside the stock exchange.

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