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…
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Published 2 February 2017. Some rules have changed since; ask us for the current position.
The new year brought plenty of new laws that have come into force and affect individuals, and not only them.
Today we look at important changes to how tax audits of businesses are carried out. The key provision is in point 6.
1. The audit schedule is now public
The official website of the State Fiscal Service (SFS, Державна фіскальна служба) will now publish information that used to be kept out of sight. This should ease the pressure on businesses and…
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Published 26 January 2017. Some rules have changed since; ask us for the current position.
At the end of December 2016, amendments to the Tax Code of Ukraine (Податковий кодекс України) changed the transfer pricing (TP) rules that apply to cross-border transactions for tax purposes.
A controlled transaction now affects the taxable base. The following foreign trade transactions were added to the list of controlled transactions:
purchases and sales of services through non-resident commission agents;
transactions…
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Published 13 October 2016. Some rules have changed since; ask us for the current position.
Dear colleagues,
On 29 September 2016, the tax committee of the Ukrainian Chamber of Commerce and Industry (ТПП) held a round table on the bill to improve the tax system. Participants included representatives of Parliament (MP Oleksandr Kirsh), the Ministry of Finance (adviser to the Minister Yana Buhrimova) and Rostyslav Kulish, head of the audit firm Key Solutions.
We support most of the bill's initiatives, for the reasons…
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Published 22 June 2016. Some rules have changed since; ask us for the current position.
The tax authorities have reminded taxpayers that, under the first paragraph of subparagraph 141.4.7 of the Tax Code of Ukraine, the profits of non-residents operating in Ukraine through a permanent establishment are taxed under the general rules. The permanent establishment is treated as a taxpayer operating independently of the non-resident.
The object of corporate income tax is profit sourced in Ukraine and abroad. It is determined by adjusting the pre-tax…
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