In Ukraine, systems of "electronic payments" started developing at the beginning of the 2000 and today in the conditions of financial crisis and unstable bank activity began to be considered as alternative to traditional ways of calculations between physical and legal entities.

According to official sources, presented by the Ministry of Revenue and Duties of Ukraine, in 2011 the volume of the calculations executed by various systems of "electronic payments", made 2,5 billion UAH. On financial results of 2011 it makes twofold increase in a monetary turn in comparison with 2010.

According to the most modest forecasts, the further gain of these calculations can reach 15 billion UAH by 2014.

Let's note that the turn of electronic money in Ukraine still isn't settled legislatively, and available normative legal acts often comprise many definitions which insufficiently precisely reflect an essence and the nature of systems "electronic payments".

In the international practice by the first legal status of electronic money is regulated. In particular, according to the paragraph "b" of item 3 of Art. 1 of the Directive of the European Union 2000/46/EU, electronic money means the monetary value as a special type of the right of the requirement to the organization issuer and correspond to the following three parameters:

1) fixed and stored on the electronic carrier;

2) issued for receiving money in a cost size, not smaller the emitted monetary value;

3) accepted, as an instrument of payment, others (besides the issuer) organizations.

Similar definition is given by the Ukrainian legislation. So, according to the item 1.2 of resolution No. 178 NBU of 25.06.2008, electronic money is defined as "the units of value which are storing on the electronic device", serving as an instrument of payment of clients of the issuer of such money and "being the liability of the issuer". Besides, in Ukraine legal status of systems "electronic payments" is regulated by:

1) the Civil code of Ukraine of 16.01.2003 No. 435-IV;

2) the Instruction about an order of opening, use and closing of accounts in national and the foreign currencies, approved by the resolution of NBU of 12.11.2003 No. 492;

3) the Instruction about clearing settlements in Ukraine in the national currency approved by the resolution of NBU of 21.01.2004 No. 22;

4) the resolution on electronic money in Ukraine, approved by the decree of NBU of 25.06.2008 No. 178 which obliges the companies issuing "electronic" money, during six months to tax on coordination of the rule of work of the systems;

5) Resolution "About Electronic Money", update (No. 481 resolution NBU of 04.11.10).

One of leaders on virtual monetary circulation on the territory of Ukraine is the payment system of WebMoney Transfer

To the number of the main electronic currencies of this system behave: WMZ (US dollar equivalent); WMU (hryvnia equivalent); WMR (equivalent of Russian ruble); WME (euro equivalent). Legal status of each of them is defined according to the legislation of that country which resident is the issuer of such currencies. In Ukraine issuers of electronic money are compelled to adapt the operations for the current legislation.

Today, the current legislation of Ukraine didn't define the concept of "electronic money". The only normative legal act which defines what "electronic money" is, regulates their issue, and the address in the territory of Ukraine is Resolution of NBU No.481 of 04.11.10. "About electronic money".

At the same time, according to lawyers, initial adoption of the relevant law, and then, on its basis, - Resolutions of NBU would be more logical. In this regard, for two last years in the Verkhovna Rada different parliamentary fractions repeatedly submitted for consideration the bills "About Electronic Trading", "About Electronic Commerce", etc. Unfortunately, any of them isn't accepted yet. Let's note that NBU in December, 2010 decided to suspend procedure of coordination of rules of systems of "electronic" money (the internal order No. 627 of 16.12.10) before adoption of the relevant law.

Despite not accurately regulated procedure of functioning of WebMoney Transfer system in a legislative field, it continues to develop actively. For example, in January of the current year her users had an opportunity to receive the cashed "electronic" money in any of "Ukrpochta's" offices.

The maximum sum of one transfer makes 5 thousand UAH, the number of transfers isn't limited. At implementation of transfers "Ukrpochta" raises commission charges depending on the sum of 1,2-4%. Thus the minimum amount of commission payment - 5 UAH.

Besides, at present in Ukraine there is no accurate algorithm of actions when obtaining the income of physical and legal entities through system - WebMoney Transfer, also as there is no algorithm of the taxation of the money brought to cash cards. There is only the general requirement of the tax legislation which essence is reduced to that income gained on the Internet, has to be assessed with taxes.

Considering that fact that in Ukraine users of considered system are more than 2 million physical and legal entities, and the average amount of one payment makes 300 UAH, development and practical introduction of algorithm of the taxation sphere of virtual monetary circulation gains special importance in a context of performance of a problem of filling of the budget of Ukraine for 2012.

Source: Authors publication

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