‘COVID Thousand’ Does Not Need To Be Indicated As Income, But It is Necessary To Declare Special Account - NACP

The National Agency on Corruption Prevention (NACP) states that the payment of UAH 1,000, provided for citizens fully vaccinated against coronavirus, does not need to be indicated as income, but a special account must be declared.

The press service of the NACP says this in a statement, Ukrainian News Agency reports.

"Is it necessary to indicate a thousand hryvnia as income? No, because these funds are not income for declaration. Citizens will be able to receive a cash benefit from the state in the amount of UAH 1,000. However, the vaccinated will receive these funds not in cash, but as a digital voucher, which can be spent only on a certain list of services and goods. Besides, if a person does not use them for 4 months, they will automatically return to the state budget," the statement says.

The NACP explains that since the funds received under the E-Pidtrymka program will be provided exclusively in non-cash form, credited to a special account and will not be taxed, such funds are not income, and therefore they do not need to be indicated in the declaration.

"Is it necessary to declare a special account? Yes, the account must be specified in section 12.1."Banking and other financial institutions in which the accounts of the declaring subject or his family members are opened." A virtual account will be opened for a citizen wishing to participate in the program. If such an account is opened for at least half days during the reporting period (for declaration before dismissal) or as of the end of the reporting period (for declarations of all types), then it will need to be declared," the statement says.

Also, the NACP reported that an open current account with a special mode of use for enrolling benefits under the E-Pidtrymka program is closed by the bank (without an application from the beneficiary) after 4 months from the day the benefits are credited, regardless of the fact of its use.

The NACP also recalled that the declaration campaign continues until March 31, 2022.

As Ukrainian News Agency earlier reported, the police do not consider the scheme to sell the ‘COVID thousand’ for cash to be fraudulent.