No commission and tax: Ukrainians explained how much money they can transfer to a card under the new rules.

New rules for transferring money to a card without commission and tax

Ukrainian citizens have received the opportunity to transfer money to card accounts free of charge and without taxes. According to the 'Hvylya' portal, this new opportunity was explained by a partner of the MORIS company, expert in tax law Vasyl Andrushak.

From April 1, the National Bank of Ukraine abolished the limit of 150 thousand hryvnias on transfers between individuals' cards. Now such a restriction no longer exists, opening new possibilities for Ukrainians in the use of bank cards.

According to Andrushak, by law, gifts can be received tax-free only up to the amount of 2 thousand hryvnias per year (this is 25% of the minimum salary of 8 thousand hryvnias). It should be noted that this exemption from taxation applies exclusively to gifts in kind, while monetary transfers are taxed regardless of the amount.

Bank commissions for money transfers usually depend on the specific bank's tariffs, so it is useful to check current rates before sending money. It is noted that gifts between family members are not subject to taxation according to the Tax Code, even in the case of significant amounts.

• For gifts from non-relatives, the personal income tax rate is 5%, but can increase to 18% in the absence of a notarized contract.
• Banks have the right to block suspicious transactions and refer to the appropriate state authorities in case of violations.

Currently, there are restrictions for transfers between cards depending on the client's risk level. Thus, Ukrainians can safely transfer up to 50 thousand hryvnias, but large amounts are subject to financial monitoring.

Regarding international transfers, there is currently a limit of the equivalent of 100 thousand hryvnias per month, although there are exceptions for certain categories of operations.

If there are questions or doubts about the compliance of operations with legislation, banks have the right to contact the relevant regulatory authorities.