If a volunteer receives charitable funds into their bank account, they must report this to the tax office. All receipts must be taxed at the rate of 19.5% and paid to the budget. If this is not done, there is a risk of fines and penalties being imposed. In order to avoid paying taxes, the benefactor must register with the Volunteer Registry. Registered volunteers must keep the documents confirming the provision of charitable assistance.
Remember that in the absence of documents and receipts confirming charitable expenses, the bank may block the volunteer's account if the income limit exceeds UAH 400,000 per month. The volunteer also runs the risk of being sued by law enforcement authorities for fraud and punishment under Ukrainian law.
