The Verkhovna Rada voted as the basis for draft law No. 7441-1 on support for borrowers whose property was destroyed or damaged as a result of the armed aggression of the Russian Federation. People’s deputy, chairman of the tax committee of the parliament Danylo Hetmantsev reported this in Telegram,
KYIV. UkraineGate. 9. July . 2022 | Economy .
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“Today, the Verkhovna Rada adopted draft law No. 7441-1 on amendments to the Tax Code of Ukraine and other legislative acts of Ukraine regarding the support of borrowers who lost property in connection with hostilities, ” Hetmantsev said .
Details
Earlier, the People’s Deputy reported that this draft law “depends on the location of the property and the possibility of officially recording the damage, the actions of both borrowers and creditors are determined, as a result of which the loan will either be “frozen” until the compensation provided for by law is received, or forgiven (in the case when a single dwelling is destroyed the borrower or his only car)”.
According to the explanatory note, the draft law, in particular, clarifies the norms of the Tax Code of Ukraine regarding the determination of the amount of a taxpayer’s debt (loan) for a loan that is subject to forgiveness (cancellation).
According to Hetmantsev, this draft law provides for:
- establishing that the amount of the taxpayer’s debt for the loan, which is subject to forgiveness according to the provisions of the draft law, is not included in the total monthly taxable income of the taxpayer on the income of individuals;
- establishing that bad debt is the borrower’s debt for a loan that is subject to forgiveness according to the draft law, which will ensure the equilibrium value of forgiven amounts for the creditor;
- establishment of cases and signs for which the borrower can apply to the creditor with a statement to suspend the payment of the monetary obligation under the consumer credit agreement;
- clarification of the types of property that is the subject of collateral for loans that are subject to freezing or forgiveness;
- distinguishing loans between those subject to freezing and those subject to forgiveness;
- coverage of residential property, which was purchased not on credit from a financial institution, but with installments or deferred payments directly from the developer, by the procedures stipulated by the draft law;
- determination of the order of notification and confirmation by the borrower (his representative) to the creditor regarding the status of destroyed or damaged property;
- establishment of the creditor’s procedure upon receipt of the borrower’s application depending on the status of the property.
- provision of a mechanism for compensating the creditor for amounts forgiven to the borrower.
Source: Ukrgate