How to get compensation for the costs of education

In Ukraine it is possible to recover some of the money spent on credit or paid study. This is called tax relief. Of course, to draw, need to pay mortgage or education in accordance with the law, including any agreed charges.

Как получить компенсацию за оплату образования

Elena Goncharova tax returned about 4 000 out of 10 000 spent on education at the University. She found out about a tax discount from a friend when he graduated from, writes Today.

“When I went to the tax, then expected me to refuse. Thought they are not interested to return the money. But I within minutes explained everything. I submitted receipts for tuition. In parallel, I worked, and therefore filed a proof of income that you conscientiously pay taxes. A month later, I returned the money. Me this amount then it bailed out. Every Ukrainian can receive compensation – it’s real,” says Elena Goncharova.

You can receive compensation for tuition in vocational schools and colleges. If the child goes to a private detsadik or school, parents can also apply for a tax refund. Compensation applies only to education in Ukraine.

To get it, it is necessary to have a contract with the school and receipts that confirm payment of training. To apply for a discount can the student himself if he is officially working and paying taxes, and his parents.

To get discounts after the end of the tax year. That is, in 2020 it is possible to obtain compensation for the cost in 2019 To receive the discount, you need to go to Fiscal service with the passport, INN, a school contract, receipts for the year. There will fill in a tax return, it is necessary to write the resulting income for the year and the amount that the person paid for the education. Within 60 days the money will return.

“To get the tax credit provides the taxpayer with a tax authority a tax return together with a copy of documents confirming the right to a tax rebate. The tax authority examines the provided form together with the provided documents and informs the taxpayer of the results of the review: back his taxes, or he gets a refusal in the calculation of tax credits”, – says Oksana Carasciuc, senior consultant of tax and legal services KPMG in Ukraine.

The wages of the taxpayer must be higher than the amount of compensation.

Example of the calculation of tax credits for education

For example, people have declared for 2019 30 000 UAH of income and education spent 42 000 UAH. Then he will pay income tax only the annual income – 5 400 UAH. If the person is declared for the year the income is 66 000, of which paid 11 880 UAH of income tax (18%), and expenditure on education amounted to 32 000, then the tax will pay the difference between the income tax and the tax on the amount on education:

66000-32000=34000 – difference, which kompensiruet tax;

34000*18%=6120 – the amount of tax;

11880-6120=5760 the amount of compensation.