Published 5 October 2021. Some rules have changed since; ask us for the current position.
According to 2019 research, Ukraine ranked 126th out of 180 countries in the global corruption index. Corruption shows up mainly as unregistered (illegal) business, money laundering and tax evasion.
To fight this more effectively, Ukraine decided to adopt a new anti-money laundering law. It was passed at the end of 2019, and one of its key features is financial monitoring.
Financial monitoring is a procedure for controlling financial transactions carried out in various sectors.…
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Published 24.09.2021. Some rules have changed since; ask us for the current position.
On 23 September 2021 the Cabinet of Ministers adopted a resolution amending the previously approved procedure for submitting financial statements. Among other things, the changes concern the deadlines for filing documents with the relevant regulatory authorities.
The amendments to the Procedure came in response to repeated requests from companies, since financial statements have to be filed together with the auditor's report.
The…
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Published 22 September 2021. Some rules have changed since; ask us for the current position.
In early September the Ministry of Finance of Ukraine announced plans to introduce automatic exchange of financial and tax information in line with the international AEOI standard (Automatic Exchange of Information) and the CRS (Common Reporting Standard).
Such systems are regarded as modern and effective tools. Officials noted that a number of preparatory steps are needed before the system can be introduced, so it is unlikely to start working in Ukraine before 2023.
Automatic…
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The legal relationship between a client (an individual entrepreneur or a company) and an outsourcing firm that keeps its books is unlike a relationship with any other counterparty.
Here you are entrusting your accounts to outside specialists and giving them access to confidential information. That is why it matters to choose a professional who is reliable, qualified and responsible.
Key factors in choosing an accountant
Qualifications. An accountant's qualifications play the central role. The specialist should…
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Want to focus on growing your business, tackling the big tasks and making a profit? Hand your accounting over to an outsourcing company.
In the early days, many entrepreneurs keep their own books. The work is routine and time-consuming, and it also calls for certain skills and qualifications.
Accounting services offered by audit firms are the best fit for small and medium-sized businesses.
When does outsourcing make sense?
A commercial company needs an accountant at every stage of its development:
When…
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