Proceeds have increased by 207% after the timekeeping audits

STS organized and conducted 311 timekeeping audits of proceeds through the registrars of calculated operations during January – June 2020 in order to determine the actual volume of settlement operations carried out by business entities in the sale of excisable products.

The timekeeping audit is a monitoring process of the taxpayer’s business activities which is carried out during the actual audits and is used by regulatory authorities in order to determine real indicators of the taxpayer’s activities.

Proceeds have increased by 207% or in the amount of nearly 5 thousand UAH per day on average in Ukraine after the timekeeping audits.

At some business entities such increase has amounted 400-500% or 10–15 thousand UAH per day.

In addition, penalties (financial) sanctions totaling 9.7 million UAH have been applied as a result of actual audits during which the proceeds’ timekeeping was conducted.

Increase in the volume of settlement operations carried out through the RCOs, in the future will affect the increase in pre-tax revenues, subsequently revenues to the budgets of all levels. Given the effectiveness of taken measures, the State Tax Service plans to continue the use of such timekeeping audits of proceeds through the RCOs on a regular basis.

We also remind customers about the possibility of submitting complaints about legislative violations in the sphere of trade, catering and services at idd@tax.gov.ua.