Single tax payers must keep primary documents for 1,095 days

Published 3 February 2017. Some rules have changed since; ask us for the current position.

Sole proprietors (FOP, фізичні особи — підприємці) must keep their primary documents for a full 1,095 days from the date they file their single tax return.

Breaching this requirement, which looks simple but in practice means a very long retention period, can lead to a fine of UAH 510. A second breach (hard as it is to imagine) costs UAH 1,020.

If there are no primary documents for goods (works, services) bought without paying taxes, you will face the penalties set for tax agents in paragraph 127.1 of Article 127 of the Tax Code of Ukraine, and late-payment interest will be charged on the tax liability determined by the audit under subparagraph 129.1.1 of paragraph 129.1 of Article 129 of the Tax Code.

See also: 6 important changes to tax audits, accounting services in Kyiv