New Rules For State Officials’ Asset Declarations

A new system of electronic income and property declaration obliges state officials to declare assets and property of a lower amount than previously, Ivan Presniakov, UNDP Public Sector Transparency and Integrity Project Manager said in an interview to Uryadovy Courier.

According to Presniakov, the new reporting template stipulates declaring cash income and property. That didn’t used to be the case.

"Politicians and state officials used to say that they bought expensive cars and traveled abroad with cash they were saving all their life or they received as a gift from close family members. After the new system is working for several years, it will be more and more difficult to explain unjustifiably luxury lifestyles by such savings and gifts," he stresses.

From now on, all gifts worth ₴6.5 thousand and more have to be declared. Another novelty is that it became mandatory to declare not only vehicles but all personal assets worth ₴122 thousand or more. In addition, officials will have to declare all expenses equaling or exceeding ₴122 thousand.

These restrictions still can be evaded, Presniakov said. For instance, an official is not obliged to declare five fur coats costing ₴50 thousand each, while he/she has to declare one if its price is ₴122 thousand or more.

Finally, state officials are also requested to declare offshore assets and their construction projects in progress.

Source: Ukrayinska Pravda