The Ministry of Economy of Ukraine has prepared a draft resolution of the Cabinet of Ministers of Ukraine approving the Procedure for paying fines by advertisers to the state budget for violating the Law of Ukraine “On Advertising” related to advertising vacancies (employment).
According to this document, the fine is paid on the basis of the administrative document of the State Labor Service on the imposition of a fine for violating the requirements of Art. 24 of the Law on Advertising on advertising of vacancies (employment), adopted on the basis of the act of inspection based on the results of the case, examination of materials and resolving the issue of the grounds for imposing a fine.
Advertisers pay the amount of the fine to the state budget at the place of their state registration as legal entities or sole proprietors to accounts opened with the State Treasury.
The fine is paid within 15 days after the receipt of an administrative document of the State Labor Service.
If the advertiser fails to pay the fine within 15 calendar days from the date of delivery or sending the administrative document, if this administrative document has not been appealed to the state supervision (control) and/or court and upheld, the amount of the fine is collected in court order.
The draft resolution states that it enters into force simultaneously with the entry into force of the Law of Ukraine No. 1750-IX of September 10, 2021 (i.e. from January 8, 2022), but not earlier than the day of its publication.
The State Tax Service of Ukraine has clarified whether a sole proprietor (hereinafter – SP) should keep records of all goods or some mentioned on the list. STSU informs users of PTR/SPTR that on November 26, 2021 the order of the Ministry of Finance No. 496 of September 3, 2021 “On approval of the Procedure for accounting of inventories for sole proprietors, including single tax payers”, which was registered by the Ministry of Justice on November 2, 2021 under No. 1411/37033 (hereinafter – Procedure No. 496), came into force.
Procedure No. 496 establishes the obligation to keep records of inventories at the place of their sale for sole proprietors, not certain goods.
Thus, if there is an obligation to keep records of inventories at the place of their sale, sole proprietors must keep records of all goods that are in sale, not just those specified in item 61 of the section 10 of chapter XX of the Tax Code.
We remind you that the obligation to keep records of inventories applies to sole proprietors:
- applying the general taxation system;
- single tax payers – VAT payers;
- single tax payers engaged in the sale of technically complex household goods subject to warranty repair, as well as medicines and medical devices, jewelry and household products made of precious metals, precious stones, precious stones of organogenic formation and semi-precious stones.
The National Bank of Ukraine by Resolution No. 132 of December 3, 2021 “On Amendments to the Regulations on Conducting Cash Transactions in National Currency in Ukraine” regulated a number of issues concerning the procedure for conducting cash transactions in national currency in Ukraine in accordance with the law.
From now on, restrictions on cash settlements (in the amount of UAH 50,000) will not apply to the use of cash from the fund of operational and investigative (secret investigative) actions established in pursuance of the Law of Ukraine “On the State Bureau of Investigation”.
A similar rule already applies to the use of cash from the fund of operational and investigative (secret investigative) actions created in pursuance of the Law of Ukraine “On the National Anti-Corruption Bureau of Ukraine”.
In addition, the National Bank:
- in pursuance of Law of Ukraine No. 1368-IX “On the Unified State Demographic Register and documents proving the citizenship of Ukraine, identity or special status” provided the possibility of using e-passports when issuing cash on the basis of cash orders to individuals;
- clarified the requirements for business entities to ensure the availability of banknotes, coins in circulation and/or small coins at the cash desks for change, taking into account loyalty bonus programs, and/or the availability of devices for accepting coins.
Business entities are obliged not to issue such banknotes/coins in case of receipt of worn-out banknotes/coins for payment for products (goods, works, services) and to hand them over together with cash proceeds (cash) to servicing banks.
Business entities must ensure the availability of banknotes, coins in circulation and/or small coins for change (except for those denominations of coins (banknotes), minting and circulation/ additional circulation of which have been discontinued by the NBU).
The Ministry of Finance of Ukraine by Order No. 601 of November 17, 2021 changed the form of the Tax return on corporate income tax, which was approved by Order of the Ministry of Finance No. 897 of October 20, 2015.
The updated form contains remarks on the submission of the declaration by investors with significant investments.
For the same income taxpayers, lines have been added in the main section of the declaration:
- after the line code 03 РІ (Differences) added new lines:
03.1. The amount of excess price, determined on the arm’s length principle, over the agreed (contractual) value of goods sold (works, services) in the implementation of controlled transactions by the taxpayer – an investor with significant investments;
03.2. The amount of excess of the agreed (contractual) value of purchased goods (works, services) over the price determined on the arm’s length principle, in the implementation of controlled transactions by the taxpayer – an investor with significant investments.
The amounts provided in these lines, respectively, are taken into account when determining the object of taxation (line code 04). Line 04 is now worded as follows: “Object of taxation (line 02 + line 03 PI + line 03.1 + line 03.2) (+, -)”.
Annex Correction of errors has undergone similar changes. Lines 03.1 and 03.2 have also been added and the wording of line 04 has been updated.
The changes also apply to the obligation to submit an audit report in the annexes. It will be recalled that some companies are required to submit annual financial statements, which are subject to disclosure, together with the audit report. Such statements must be submitted no later than June 10 of the year following the reporting year.
For such enterprises, the Ministry of Finance in the relevant part of the Tax return provided a special remark on the obligation to submit an audit report.
Thus, the field “Availability of annexes submitted to the Corporate Income Tax Return – forms of financial statements” contains a separate column “Note on the obligation of the payer under the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” to publish annual financial statements and annual consolidated financial statements together with the auditor's report”.
In addition, technical amendments were made to the tax return form. The name of the main tax service has been corrected from ‘fiscal’ to ‘tax’. Abbreviations of national accounting standards have been adjusted from AS to NAS. The numbering of footnotes and the connection with the addition of new ones has also been changed.
Order No. 601 will enter into force on the day of its official publication.
In accordance with item 46.6 of the Tax Code, new forms of tax return come into force for reporting for the tax period following the tax period in which they were published.
Thus, regardless of the date of publication of Order No. 601, for 2021 income taxpayers should report according to the old tax return form.
But the tax authorities may have a different opinion on this issue. We are waiting for official explanations from the State Tax Service.
The National Bank of Ukraine by Resolution “On Approval of the Rules for Compilation and Reporting by Non-Banking Financial Services Market Participants to the National Bank of Ukraine” No. 123 of November 25, 2020 approved the Rules for Preparing and Reporting by Non-Bank Financial Services Market Participants (hereinafter - NBFSMP) to the National Bank (hereinafter – the Rules).
They are mandatory for all NBFSMP, state regulation and supervision of which is carried out by the National Bank from July 1, 2020 in accordance with Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine to Improve Functions on State Regulation of Financial Services Markets” No. 79-IX of September 12, 2019.
The rules are the first since the National Bank took over new functions within the framework of the ‘split’ reform.
This is the only regulatory legal act of the National Bank to date, which sets requirements for the reporting by NBFSMP for regulatory and supervisory purposes. In contrast to the practice of the previous regulator of the non-banking financial services market, the National Bank summarized the reporting requirements of different market segments in one document.
At the same time, the National Bank expanded to NBFSMP the proven technology of collecting reports from respondents in a single electronic XML format through a web portal with automatic verification of the completeness and timeliness of downloaded reports, as well as data errors.
After the entry into force of the Rules, the orders of the previous regulator, which established reporting requirements, will expire.
