Regarding unscheduled documentary audits of business entities that carry out export and import of products

Sub-paragraph 69.2 Paragraph 69 Sub-section 10 Section XX "Transitional provisions" of the Tax Code of Ukraine stipulates that bodies of the State Tax Service have a right to conduct unscheduled documentary audits of taxpayers regarding whom tax information has been received, which indicates violation of currency legislation in terms of compliance with deadlines for receipt of products for import and/ or foreign exchange earnings from export.

A significant number of facts were established in the course of control and verification measures during processing of information of the National Bank of Ukraine regarding violations committed by residents of settlement deadlines for performed export and import of products revealed by authorized banking institutions:

non-submission of a complete package of documents required for foreign exchange supervision of compliance with settlement deadlines by resident to banking institution;

receipt of register of customs declarations for resident’s operation to banking institution who is not a client of this bank;

receipt of funds from non-resident under export operation to the resident's bank account, which is not specified in customs declaration;

failure to notify banking institution about changes to customs declaration based on the adjustment sheet.

Residents' failure to submit full package of documents and up-to-date data to banking institution is a mandatory basis for bodies of the State Tax Service to carry out unscheduled documentary audits.

Reminder! Business entities that carry out export and import of products must provide servicing bank with a full set of documents necessary to carry out currency supervision for compliance with settlement deadlines.

Timely provision of necessary documents on foreign economic operations by residents to banking institution will reduce a number of notifications of the National Bank of Ukraine about violations and, as a result, will reduce number of audits of subjects of foreign economic activity.