451 million UAH were additionally accrued for violation of settlement deadlines for foreign economic operations

State Tax Service has processed 2200 bank notifications about violations of settlement deadlines for foreign economic operations by business entities (as of October 1, 2022).

451 million UAH of penalties were additionally accrued based on the control measures results.

Accrued penalty in the amount of 103 million UAH was paid to the budget.

Organization and conduction of documentary audits on compliance with settlement deadlines for foreign economic operations, including on the basis of notifications received from the National Bank of Ukraine (abb. NBU) about violations of settlement deadlines in the foreign exchange sphere committed by business entities remains the main issue of currency supervision for the State Tax Service.

Currency regulation system in a new format has been in effect since February 2019, after the Law of Ukraine № 2473-VIII as of 21.06.2018 "On currency and currency transactions" came into effect and provides for the priority of market instruments of currency regulation over administrative ones. At the same time, restrictions and protective measures are applied by the NBU exclusively for ensuring stability of financial system and balance of payments of Ukraine.

Deadline for settlement operations on export and import of products, established by the NBU, was 365 calendar days until April 5, 2022.

In connection with introduction of the martial law in Ukraine, settlement terms for export and import of products are 180 calendar days from April 5, 2022.

Sub-paragraph 69.2 Paragraph 69 Sub-section 10 Section XX "Transitional Provisions" of the Tax Code of Ukraine stipulates that the State Tax Service and its bodies have a right to carry out unscheduled documentary audits of taxpayers, regarding whom tax information was obtained, which indicates that the taxpayers have violated currency legislation in terms of compliance with deadlines for receipt of products for import operations and/or foreign exchange earnings for export operations.

The specified norm entered into force on May 27, 2022.

Tax authorities have continued conducting unscheduled audits of taxpayers, following which the National Bank of Ukraine received information about violations of deadlines for receipt of products for import operations and/or foreign exchange earnings for export operations.