Draft Law of Ukraine

“On Declaration of Incomes and Property by Natural Persons”

This draft is an alternative to draft law 2465  that was introduced into the Ukrainian Parliament by the People’s Deputy V.Yavorivsky.

The above draft law defines the procedure for preparing and filing declarations of the property status and incomes of natural persons.

Personal incomes and property owned by Ukrainian citizens, foreigners or stateless persons permanently residing in Ukraine, as well as the property owned by their families, shall be subject to declaration.

This draft law determines the procedure for declaring property status and personal incomes of state officials and establishes grounds for public announcement of the information on property and incomes of high-ranked Ukrainian officials.

The above draft law outlines measures needed to protect information stated in declarations, defines a circle of subjects entitled to access such information, their responsibility for disclosure of the said information.

According to this draft, any property- and money-related transactions are to be banned if property and incomes are not declared.

The reason to develop this draft law was the need to comply with the requirements of Article 67 of the Constitution of Ukraine. In accordance with this article, all citizens shall file with local tax inspections their annual declarations of property status and incomes for the previous year in line with the procedure established by law.