What should everyone know about filing a tax return this year?

The need to file a tax return on property and income was introduced with the acquisition of independence and on the basis of the Decree of the Cabinet of Ministers on a profitable tax from citizens. According to the current Tax Code all declarations about property, incomes, expenses and financial obligations were to be submitted by all officials within the framework of the law and on the Principles of Counteraction and Prevention of Corruption. They do not have any relation to these tax declarations and they explain to the Ministry of Income and fees, they are all analyzed by department for fighting corruption.All needs to be done in the form number T1135.

The filing of the citizens’ tax return does not depend on the status but depends on the type of earnings, its size and sources of receipt. Obligations to declaring are incomes received from abroad. The tax paid abroad can be taken into account in paying taxesin the territory. That is, the obligations are reduced by the amount of taxes paid abroad. If an agreement on avoidance of double taxation has been concluded with the country where the income was received, the certificate must be translated and apostil led on it. If such a contract is not available, the certificate must be legalized in the country where the income was received.

It is important to know Step-by-step

The same situation applies to pension benefits received. In the presence of contracts, such pensions are not levied. Otherwise a legalized certificate will be required. In addition, the main cases of filing a declaration are obtaining investment profit, income from entrepreneurial activity, from conducting independent professional activity, received from two or more tax agents, including as a result of performing work under civil law contracts.

Errors happen

However, this does not always work. Also, according to the tax legislation, incomes received not from the tax agent fall under mandatory declaring. It is about income in the form of the value of inherited property, gifts, income from operations for the sale / exchange of movable and immovable property, as well as the leasing of such property. If the tax was paid at the notarial conclusion of the transaction, then the declaration should not be submitted.

How it works

In the declaration and additions, tax authorities warn that there should not be any mistakes, corrections, deletions. All documents must be completed in such a way as to ensure the free reading of the text and the possibility of keeping these records for a set period of time.The declaration can be submitted by the payer in several different ways, personally by the declarant or an authorized person, by mail with the message of delivery and description of the attachment or in electronic form.