Tax reporting in Ukraine means preparing a company's tax returns and financial statements from its accounting records, signing them and filing them with the State Tax Service and statistics authorities on time. Key Solutions prepares and files reports for companies and reconciles them with the books before filing.
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In short
- Who needs it: every Ukrainian company; the set of reports depends on its size category, tax system and VAT registration.
- What you receive: filed returns and financial statements with acceptance receipts, a list of accounting discrepancies and a reporting calendar.
- Timing: we work to the statutory deadlines; for a new client we start well ahead of the deadline, because opening balances need reconciling first.
- Cost is agreed per engagement and depends on the number of reports, transactions and employees.
- Where to start: tell us your tax system, whether you are VAT-registered and which period you need.
Which tax returns a company files
A tax return is a document filed with the tax authority within the statutory deadline, on which the tax liability is assessed and paid (Art. 46.1 of the Tax Code of Ukraine). The main returns:
| Return | Reporting period | Tax Code |
|---|---|---|
| VAT return | calendar month | Art. 202.1 |
| Corporate income tax return | quarter, half-year, nine months and year, cumulative; annual only in listed cases, including revenue up to UAH 40 million | Art. 137.4, 137.5 |
| Single tax return (group III) | quarter | Art. 296.3 |
| Payroll return (PIT and SSC) | legal entities monthly, sole proprietors quarterly | Art. 176.2(b) |
Monthly returns are due within 20 calendar days after the month ends, quarterly and half-year returns within 40 days, annual returns within 60 days (Art. 49.18). Corporate income tax payers attach their financial statements to the return (Art. 46.2).
Financial statements and simplified reporting
The full set consists of the balance sheet, income statement, cash flow statement, statement of changes in equity and notes (Ukrainian standard NP(S)BO 1). Micro and small companies file a simplified set of two forms, the balance sheet and income statement. The category is set by meeting two of three criteria for the prior year: total assets, net revenue and average headcount (Art. 2(2) of Law No. 996-XIV). Annual statements of micro and small companies are due by 28 February of the following year, of medium-sized companies by 1 June (Cabinet of Ministers Resolution No. 419). Public interest entities and certain other companies report under IFRS; see financial statements under IFRS. Medium-sized and large companies publish their annual statements with an audit report (Art. 14(3) of Law No. 996-XIV). That statutory audit is performed and signed by a partner audit firm entered in the relevant section of the Register, while Key Solutions prepares the books and statements and supports the audit through to publication; see mandatory audit of financial statements.
What the service includes
- Annual and interim financial statements under Ukrainian GAAP.
- VAT, corporate income tax or single tax returns and the payroll return.
- Reconciling reports with the ledgers, bank statements and the taxpayer's e-cabinet.
- Electronic filing and checking acceptance receipts.
- Amended returns and restated statements if errors are found, and replies to tax authority requests.
How we work
- Review of the books We check balances, source documents and your list of reports.
- Reconciliation We reconcile the books with the bank, counterparties and e-cabinet.
- Preparing the forms We prepare the statements, returns and calculations.
- Approval and signing We walk the director through the figures and tax amounts.
- Filing and receipts We file the reports and check the acceptance receipts.
What affects the cost
The fee is agreed per engagement and fixed in the contract. It depends on the number and type of reports (VAT and corporate income tax payers file more than single tax payers), the volume of bank transactions, whether you have employees, the state of the books and whether you need a one-off annual report or monthly support.
What we need from you
- Access to the accounting system or a trial balance export.
- Bank statements for the period.
- Source documents: contracts, acts, invoices, tax invoices.
- Payroll data, and an e-signature or power of attorney for filing.
Penalties and corrections
Late filing or failure to file a tax return is fined UAH 340 per report, or UAH 1,020 for a repeat within a year (Art. 120.1). Officers also face administrative fines for failing to file financial statements (Art. 164-2 of the Code of Administrative Offences). A taxpayer that finds an understatement files an amended return and pays a 3% fine, or a 5% fine if the correction goes into the next return (Art. 50.1); until martial law ends, a taxpayer that corrects such an error itself under Art. 50 is exempt from these fines and late-payment interest (subpara. 69.38, subsection 10, section XX of the Tax Code). Companies that could not file financial statements on time during martial law file them within three months after it ends.
Legal basis
Rules the work relies on
- Art. 2, 11, 13, 14 of Law No. 996-XIV — company categories, preparing and filing financial statements.
- Cabinet of Ministers Resolution No. 419 — deadlines for financial statements.
- Art. 46, 49.18, 50.1, 120.1, 137, 176.2, 202.1, 296.3 of the Tax Code — tax returns, periods, deadlines, corrections and fines.
Risks, and why to hand this to a team under contract
Reports filed without reconciling the books lead to tax authority requests, fines and additional assessments, and an error in the annual statements carries over into what the bank, owners or auditor see. We work under a contract that fixes scope, timing and liability. For ongoing support, reporting is part of our accounting services.
Why Key Solutions
- Turnkey, with no extra hassle
- We take the whole task: documents, calculations, reporting and correspondence with the State Tax Service. You make the decisions, provide source documents and sign; we do the rest and contact you only when it matters.
- We take on the tax office
- Information requests, blocked tax invoices, inspection reports: we prepare explanations, rework documents and appeal until the issue is closed. Where the law is in dispute, we work together with the group's lawyers.
- We see it through
- Your case stays on track: the specialist running it remains with you, even if an inspection or audit drags on for months. Statutory audits are performed, and the report signed, by a partner audit firm entitled to perform them; we handle preparation and support through publication, so you deal with one team from start to finish.
- Boutique-level involvement
- A senior specialist runs your project personally (see the Our employees page), backed by 14 years of Innova group practice in 50+ countries. Non-standard tasks are our field: where you hear “it can’t be done”, we look for a lawful way, and group companies cover the rest: legal.ua for legal matters, crystal.tax for crypto-asset taxation.
- Your affairs stay yours
- Information about your company, turnover, payroll and counterparties reaches neither competitors nor third parties. We disclose only what the law or a procedure requires, and the contract says so.
- Faster and right the first time
- Full involvement: your specialist learns your books, contracts and business, so documents and reports are ready on time with no rework. The group's 14 years of experience let us get right the first time what takes some firms three attempts.
Frequently asked questions
What is a tax return in Ukraine?
It is the document a taxpayer files with the State Tax Service within the statutory deadline and on which the tax liability is assessed and paid (Art. 46.1 of the Tax Code). A company files VAT, corporate income tax or single tax returns and a payroll return, each for its own reporting period.
When are annual financial statements due?
Micro and small companies and non-profit entities file by 28 February of the following year, medium-sized companies by 1 June. Interim statements are due by the 30th day of the month after the quarter.
How often is corporate income tax reported?
Quarterly, half-yearly, for nine months and annually on a cumulative basis (Art. 137.4). An annual period applies to newly registered payers, agricultural producers and payers whose prior-year revenue does not exceed UAH 40 million (Art. 137.5).
Who signs the financial statements if an outside firm keeps the books?
The company's director or an authorised person, together with the head of the accounting or audit firm that keeps the books or a person it authorises. The company's management remains responsible for timely filing.
How do I correct an error in a filed tax return?
File an amended return in the form valid at the time of filing and pay the shortfall with a 3% fine, or report it in the next return with a 5% fine (Art. 50.1). Until martial law ends, these fines and late-payment interest do not apply to errors the taxpayer corrects itself under Art. 50.
What is the fine for filing a tax return late?
UAH 340 for each late or missing return, and UAH 1,020 for each repeat within a year after a fine was applied (Art. 120.1 of the Tax Code).
Related services
Discuss your reporting
Tell us your tax system, whether you are VAT-registered, how many employees you have and which period you need. We will reply with the list of reports, the timeline and the fee.
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