The Ministry of Finance of Ukraine, by Order No. 469 of August 31, 2023, approved the Procedure for electronic interaction of information systems of the State Tax Service of Ukraine and the State Financial Monitoring Service of Ukraine regarding the provision of information on the income of individuals, necessary for preventing and countering the legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction.
At the same time, some minor changes were made to Order No. 469 in accordance with Order No. 512 of the Ministry of Finance of September 21, 2023.
In accordance with Order No. 469, interaction will be carried out in electronic form through the state electronic information resource Trembita or using other state information and communication systems with the application of appropriate complex information protection systems in them by:
- automated exchange of information between information resources based on the request-response principle;
- regular provision of changes to the information resources of the State Tax Service for their updating in Unified information system.
If necessary, State Financial Monitoring forms and submits to the State Tax Service in electronic form requests for information on:
- sources and amounts of income accrued/paid to an individual and/or amount of income received by self-employed persons, as well as the total amount of annual income declared by the individual in the tax return on assets and income;
- the amount of income accrued/paid to individuals by the tax agent;
- amounts of accrued/transferred income tax for individuals;
- the amount of accrued/transferred military duty.
DPS ensures the processing of requests and provides answers to the requests of the State Financial Monitoring Service within three working days from the day of their receipt.
The National Bank of Ukraine has proposed for public discussion the draft Regulation on the procedure and conditions for concluding a third-party liability insurance contract for the subject of audit activity (hereinafter – the draft).
The draft was developed in order to implement the new provisions of the Law of Ukraine ‘On Audit of Financial Statements and Auditing’ and the requirements of the new Law of Ukraine ‘On Insurance’. The specified legislative innovations enter into force on January 1, 2024 and oblige entities of audit activity that conduct mandatory audits of financial statements to have a third-party liability insurance contract.
The draft, in particular, establishes:
- essential terms of the auditor's liability insurance contracts;
- requirement for the continuity of the liability insurance of the subject of audit activity during the entire period of provision of statutory audit of financial statements.
You can familiarize yourself with the materials for discussion by following the links:
- draft resolution of the Board of the National Bank of Ukraine ‘On approval of the Regulation on the procedure and conditions for concluding a third-party liability insurance contract of the subject of audit activity’;
- analysis of the regulatory impact of the draft resolution.
Comments and proposals for the project are accepted until October 30, 2023.
The State Tax Service of Ukraine has changed the mechanisms for processing requests for obtaining public information. Order No. 332 of the Ministry of Finance of June 19, 2023 ‘On Amendments to the Procedure for Organization of Work and Interaction between Structural Units of the State Tax Service in Compiling, Submitting and Processing Requests for Obtaining Public Information and the Form for Submitting Request for Obtaining Public Information which is Possessed by the Bodies of the State Tax Service’ (hereinafter – Order No. 332) entered into force.
Order No. 332 specified the mechanisms of:
- acceptance and registration of requests for obtaining public information received by the State Tax Service through ‘Electronic Cabinet’ information and communication system (hereinafter – the Electronic Cabinet);
- sending responses to request public information through the Electronic Cabinet.
The document specifies, in particular, that:
- requests for information received after the end of the working day, on weekends, holidays and non-working days are accepted, pre-processed and forwarded on the next working day;
- in case of force majeure, preliminary processing and registration of requests for information, as well as processing and registration of source documents in the State Tax Service Electronic Document Management System are carried out at the first opportunity after the termination of such circumstances.
The effect of the Procedure for organizing work and interaction between the structural divisions of the State Tax Service bodies in the preparation, submission and processing of requests for obtaining public information, approved by Order of the Ministry of Finance No. 405 of July 9, 2020, does not apply to relations regarding the consideration of attorney requests and the provision of individual tax consultations.
The Ministry of Finance of Ukraine has updated declarations on eco-tax and rent payments. Changes have been made to the forms:
- Tax declaration of environmental tax (Order No. 488 of September 7, 2023);
- Tax declaration on rent payment (Order No. 487 of September 7, 2023).
The document is designed to simplify tax reporting for taxpayers.
Thus, the following are excluded from the specified tax declarations and their annexes:
- lines for determining the amount of the penalty;
- notes to such lines regarding the procedure for calculating the penalty amount;
- the position ‘This part of the Tax Declaration is filled out by the officials of the controlling body’ regarding the indication by the officials of the controlling bodies of the results of the chamber audit of the Tax Declaration.
The Cabinet of Ministers of Ukraine has adopted the Resolution ‘On Amendments to Resolution of the Cabinet of Ministers of Ukraine No. 1092 of September 27, 2022’, developed by the Ministry of Finance to facilitate and speed up the process of obtaining authorizations for customs simplifications, which will positively affect business.
The approved changes reflect the results of the practical application by customs authorities and businesses of the current provisions on granting authorizations for the use of customs simplifications.
Thus, the main change is the introduction of an additional model for assessing the indicators of the financial condition of enterprises, which will enable more enterprises to obtain authorizations for general guarantees with a reduction in the level of coverage to 50%, 30% and exemption from the guarantee.
The introduced additional model provides for:
- analysis of the financial status of applicants for authorizations based on the dynamics of an expanded range of indicators (without any normative values, as assumed by the basic model);
- introduction of a point scale for various types of authorizations for general guarantees, depending on the decrease in the level of its coverage by the guarantee of a financial institution;
- during the period of application of the additional model for assessing financial condition indicators, this criterion will be monitored quarterly (instead of annually), which will require enterprises that wish to apply such a model to form and submit interim financial statements.
The Ministry of Environmental Protection and Natural Resources of Ukraine, by Order No. 481 of July 10, 2023, amended Order No. 97 of the Ministry of Ecology and Natural Resources of March 14, 2016 ‘On Approval of Reporting Forms for Accounting for Mineral Reserves and Instructions for Filling them out’. In accordance with the changes, the following reporting forms are set out in the new edition:
- No. 7- ГР (groundwater) (annual) ‘Reporting balance of underground water use for 20__ (year)’ (new name of reporting form No. 7- ГР – ‘Reporting balance of extraction and use of underground water for 20__ (year)’) and Instructions for filling it out;
- No. 5- ГР (solid combustible, metallic and non-metallic minerals) (annual) ‘Reporting balance of mineral reserves for 20__ (year)’ and Instructions for filling it out.
Order No. 481 enters into force on March 1, 2024.
The National Bank of Ukraine, by Resolution No. 116 of September 16, 2023, has improved non-resident banking supervision. The introduced changes, in particular, provide for the obligation of banks to notify the National Bank of meetings of participants/meetings of collegial bodies of the bank and of the decisions made by them by sending:
- letter with information in electronic form - within two working days from the day following the day of meetings of participants/meetings of collegial bodies of the bank and/or decision-making by them;
- protocol of meetings of participants/meetings of collegial bodies of the bank with a cover letter in electronic form – the next working day after the day of drawing up/formation of the protocol.
Such information, taking into account the norms of Article 67 of the Law of Ukraine ‘On Banks and Banking’, refers exclusively to the provision of notices about holding meetings and about decisions made at meetings of participants/meetings of the bank’s management bodies and committees, the mandatory formation of which is provided for in this law.
Norms regarding the conduct of internal audits are also excluded from the Regulations, given that all banks are appointed by authorized employees of the National Bank to carry out supervision, which will contribute to timely response to possible negative trends in the banks' activities and increase the effectiveness of risk-oriented banking supervision.
The Cabinet of Ministers of Ukraine has approved new grain export quotas. In order to verify and approve the export of certain agricultural goods to the Republic of Bulgaria, Romania, the Slovak Republic, Hungary and the Republic of Poland, CMU Resolution No. 1020 of September 19, 2023 introduced licensing of the export of certain goods to the specified countries.
In particular, Resolution of the CMU No. 1466 of December 27, 2022 ‘On Approval of the Lists of Goods, Export and Import of which are Subject to Licensing, and Quotas for 2023’ was supplemented by Appendix 6, which includes the following items:
- 1001 99 00 00 – wheat and a mixture of wheat and rye (meslin), others;
- 1005 90 00 00 – corn, other;
- 1205 10 90 00, 1205 90 00 – rapeseed or rapeseed, whether or not crushed: Rapeseed or rapeseed with a low erucic acid content; others;
- 1206 00 91 00, 1206 00 99 00 – Rapeseed or oilseed rape, whether or not crushed: rapeseed or oilseed rape with a low erucic acid content; others.
