Deleted Onlyfans Accounts Won'T Let You Off The Tax Hook, Ukrainian Tax Service Clarifies

Tax Time: Even Deleted Accounts Count

Attention, OnlyFans creators in Ukraine! The State Tax Service in Transcarpathia has issued a crucial reminder: income from OnlyFans must be declared, even if your account is no longer active. They're treating these earnings as foreign income, which means they have to be reported in your annual tax declaration.

According to the Zakarpattia region's tax authorities, Ukrainian residents must pay personal income tax on money earned both domestically and abroad. Payments received from platforms like OnlyFans are categorized as "income from sources outside Ukraine." This means they need to be added to your total annual taxable income and declared in your property and income statements. Furthermore, such income can also be a basis for military conscription.

Keeping Your Books Straight

The onus is on you to maintain accurate income and expense records if you're required to file a declaration. The Ministry of Finance has laid out the guidelines in Order No. 591 from June 23, 2017, outlining how to keep a book of income and expenses. It's crucial to back up your tax indicators with primary documents, accounting records, and other financial statements or information relevant to your tax calculations.

“It's essential for taxpayers to ensure their figures are backed by proper documentation,” said a tax service spokesperson.

Documents needed for tax purposes should be kept for at least 1095 days, as per legal requirements. The State Tax Service also highlights the importance of the Convention on Mutual Administrative Assistance in Tax Matters, which ensures that any information shared under this agreement remains confidential and is only accessible to relevant tax bodies.

In Case You Missed It

In other news, OnlyFans CEO recently discussed the platform's revenue success, with each employee generating a staggering $37 million. And just to keep things interesting, there's been a scandal involving police officers in the Carpathian region allegedly demanding a $1,000 bribe from an OnlyFans model, with recordings of their conversation making headlines.

Also, in a display of corporate strength, OnlyFans leads the world in revenue per employee, outshining giants like NVIDIA and Apple. Quite the feat for a platform that continues to challenge traditional economic models.