Jaak Siim, a partner of the Cuesta Law Office, published an article entitled “Tax aspects of donating to Ukraine” in the second issue of the recently published economic journal, Raamatupidamisuudised 2022. The article was also published in the Russian version of the journal.
The article provides an overview of the tax legal aspects when private individuals or various associations make donations to help Ukraine and its people in connection with the war started by Russia against this country. The article explains the conditions under which donations by legal entities are tax-free and in which cases natural persons can make deductions from income when donating. In addition, the VAT liability related to the export of goods as humanitarian aid is explained, including the circumstances of the refund of VAT paid when goods exported as humanitarian aid are purchased in Estonia or imported from a country outside the European Union.
The journal Raamatupidamisuudised is the first economic publication aimed at accountants and financiers published in Estonia since 1995. The target group of the magazine, which is published eight times a year, is accountants, financiers, auditors, entrepreneurs and other persons interested in the field. Jaak Siim article can be read by magazine subscribers or registered users of the accounting and legal news website rup.ee.