"Actual questions during the period of annual reporting" – joint webinar of the State Tax Service and Association of Taxpayers of Ukraine

Today, participants of joint online webinar of the State Tax Service of Ukraine and Association of Taxpayers of Ukraine talked about topical questions during the period of annual reporting.

Representatives of the State Tax Service spoke about features of preparing annual corporate income tax declaration. In particular, it was noted that payers must prepare and submit such declaration by February 29, 2024 (deadline for submitting annual income tax declaration) and not later than March 11, 2024 in order to pay certain tax obligations.

Tax officials focused on correctness of filling out annex on tax differences, including in operations with non-current assets, accruing reserves and provisions, upon the product purchase, etc.

In addition, the latest tax changes for corporate income tax payers were explained, as well as nuances of calculating the minimum tax liability for individuals, implementation of annual VAT recalculation, occurrence of the VAT consequences in case that taxpayers, in particular utility companies, receive budget funds, submitting annual reporting by the electronic communication means. Representatives of the State Tax Service specifically reminded about operation of mobile application "My Tax Service" and its capabilities.

Speakers also provided practical recommendations for filling out form № 4 for Tax calculation of the income amounts accrued (paid) in favor of taxpayers – individuals and amounts of tax withheld from them, as well as amounts of accrued single contribution, taxation of gifts to employees, children of employees, payments for treatment, etc.

Reminder! Communication tax platforms operate in bodies of the State Tax Service for operational communication with business. It is also possible to get explanation by calling “hotlines” and at Contact Center of the State Tax Service.

In addition, web portal of the State Tax Service has "Online education" section, which contains useful tax information for taxpayers. The section is posted at the link https://tax.gov.ua/baneryi/onlayn-navchannya.