Page 4. Taxes

In Ukraine, as in many countries, tax law is arguably the most complex area of legislation. It changes constantly, and businesses often find it hard to keep up. That is why companies increasingly turn to tax experts for help. What is tax consulting? Tax consulting is a popular business service that aims to design the most efficient tax model for the client. Specialists suggest ways to improve budget planning and tax payments, reduce tax risks and avoid accounting errors. Since everyone has to pay taxes, qualified tax experts are in demand across…

Tax advice is among the most sought-after professional services. When taxation becomes complicated and you need expert help, it pays to turn to specialists. It is also important to understand which issues a tax adviser can help you resolve. What services does tax advice cover? If you need tax advisory services, it helps to know which tasks qualified specialists can take on. They include: drawing up employment contracts correctly; preparing various agreements and contracts; preparing working papers and reporting documentation…

Published 22 February 2022. Some rules have changed since; ask us for the current position. Many Ukrainian businesses try to keep their payments to the budget as low as the law allows. One legal way to do this is the tax credit. To use it, a business has to be registered as a VAT payer, because the tax credit is made up of the VAT amounts deducted from its tax liabilities. That is why the tax authorities scrutinise tax invoices closely. Errors or inaccuracies in these documents can lead to a tax invoice being blocked, and being put on the list of risky…

An in-house accountant and a company lawyer cover a great deal, yet some problems fall outside their remit. An accountant is usually an expert in financial matters, while an in-house lawyer knows employment and corporate law inside out. Many Ukrainian businesses run into the same ordinary problems: the accountant is on holiday, the lawyer has missed a change in the law, and suddenly the company faces hefty penalties. What does this mean for the business? Significant financial losses and damage to its reputation. Can it be put right? The answer is simple: the best way to deal with…

Published 4 June 2020. Some rules have changed since; ask us for the current position. The law adopted on 16 January 2020 (Draft Law No. 1210) was finally signed by the President on 21 May, published in the official newspaper Holos Ukrainy (Голос України) on 22 May and came into force on 23 May. Its purpose is to amend the Tax Code of Ukraine (Податковий кодекс України, TCU) in relation to tax administration and to close gaps in the previous legislation. In particular, the rates of some taxes have changed, and new reporting rules and new penalties now apply. A number of…