In order to ensure optimal taxation mechanism for passive income in form of interest, the National Bank of Ukraine has compelled banks to separate accounts intended for generation of revenue in form of interest from accounts used for transfer of salaries, scholarships, pensions, social aid and other statutory social benefits.

This resolution was taken due to entry into force by the Law of Ukraine On Amendments to the Tax Code of Ukraine and Other Legislative Acts of Ukraine on Passive Income under which earnings in form of interest accrued on passive income of individuals are subject to taxation. The above rule does not apply to interest accrued on the funds credited to accounts of individuals in form of salaries, scholarships, pensions, social aid, etc.

In order to comply with subclause 165.1.41, clause 165.1, article 165 of the Tax Code of Ukraine, by Resolution No. 499, dated August 18, 2014,  the Board of the National Bank of Ukraine has set the requirement for identification of accounts to which such payments are credited.

Please note that terms of the said Resolution shall not change the procedure of payment of salaries, scholarships, pensions, social aid, etc.