Page 9. Accounting

Published 06.08.2020. Some rules have changed since; ask us for the current position. Questions about registering a business and paying taxes hold many people back from starting their own company. Ukrainians pay a lot of taxes, and one small mistake can lead to a fine. It all looks complicated and confusing. For anyone starting out, choosing a tax system in Ukraine is hard. The law keeps changing and nobody can keep track of everything. The good news is that professional accountants can handle it for you. Only with a very small turnover does it make sense to keep the income ledger…

Accounting services mean keeping a company's financial and tax records under a service contract: processing source documents, maintaining accounting registers, calculating taxes and payroll, preparing and filing financial statements and tax returns, and supporting the client through tax inspections. The Law of Ukraine "On Accounting and Financial Reporting in Ukraine" (Закон «Про бухгалтерський облік та фінансову звітність в Україні») expressly provides for this way of organising accounting, on an equal footing with an in-house accounts department. Accounting services…

Published 29.05.2020. Some rules have changed since; ask us for the current position. On 23 May 2020, Law No. 466-IX came into force in Ukraine. It supplements a number of articles of the Tax Code and restates others. The changes aim to improve the administration of taxes and levies and to introduce the standards set out in the OECD BEPS Action Plan. Key changes to tax legislation include: Local council decisions on local taxes and levies will now remain in force indefinitely, until they are repealed. Under the new version…

Commercial companies most often ask for help once they reach the bankruptcy stage. The first sign that a business may need a financial audit as part of bankruptcy proceedings is chronically overdue debt. At Key Solutions, we recommend a thorough reconciliation of the financial figures as early as this stage. We carry out solvency analysis for companies and organisations every day and offer a convenient way of working together. As soon as liquidity ratios start to fall, it is time to act. At the earliest stage, a business can still be pulled out of the debt trap. We know of companies that…

Online retail has several attractive features. Running an online store costs the owner far less than opening a physical shop. Even so, the books still have to be kept properly. Accounting services for online stores in Kyiv and across Ukraine from Key Solutions are convenient and help your online business save every kind of resource, freeing it up for more important day-to-day work. What does an accountant do for an online store? When an online business is just getting started, the owner usually has plenty of reasonable questions: how to choose an accountant and how to keep the…