Ministry of Economic Development calculates the quarterly average market price for each make and model of vehicles based on model year and mileage

Main Department of the Ministry of Revenues in Kyiv informs that Resolution of the Cabinet of Ministers of Ukraine from 10.04.2013 № 403 entered into force from 11 June 2013, approving the procedure for determining the average market value of cars, motorcycles and mopeds.

This Procedure establishes a mechanism for determining the average market value of cars, motorcycles and mopeds to assess the revenue from the sale or exchange for purposes of personal income taxation.

Average market value of the vehicle is a variable determined by statistical methods and equivalent to a probable price at which vehicles of a certain make and model of the appropriate working life and mileage at the determined date of assessment can be bought and sold.

The Ministry of Economic Development calculates the average market value of the vehicle on a quarterly basis for each make and model of vehicles taking into account the year of release and mileage. This information is published before the 10th day of the following month, as prescribed by the Ministry of Economic Development on the Ministry’s official website in open access and is kept for 1095 days from publication.

Under the provisions of the Tax Code of Ukraine, from 2013 the income received by an individual taxpayer from the sale or exchange within the reporting year of an object of personal property in the form of a car, motorcycle or moped shall not be taxable. However, the income earned by an individual taxpayer from the sale or exchange during the reporting year of two or more similar objects of movable property shall be subject to taxation.