Ministry of Revenues explains
Income received by an individual taxpayer from the sale (exchange) during the reporting (tax) year, of one of the objects of movable property in the form of a car and/or motorcycle and/or moped, is not taxable, according to explanation published on the Ministry of Revenues’ website.
In case of sale during the year of two or more objects of such property the received taxpayer's income is taxable at the rate specified in p.167.2 Art.167 of the Tax Code of Ukraine (5%).
Revenue from the sale (exchange) of a car, motorcycle, moped, is determined based on the price specified in the sales contract, but not lower than the average market price of the relevant vehicle or not lower than its appraised value determined in accordance with the law (by taxpayer's choice).
On 11 June 2013 Cabinet Resolution of 04.10.2013 №403 entered into force approving the procedure for determining the average market price of cars, motorcycles and mopeds.
Procedure for taxation of operations on sales or exchange of movable property is regulated by Art.173 of the Tax Code (as amended).
