How to determine the receipt date of income by legal entities that pay single tax for settlements through the POS terminal

Legal entities – single tax payers of Group III, who make settlements using the POS terminals with issuance of a fiscal (cash) check, determine the receipt date of income as the date indicated in a fiscal (cash) check.  

This clarification was provided to the State Tax Service by the Ministry of Finance of Ukraine.

Herewith, the Ministry of Finance of Ukraine expressed position that for individuals-entrepreneurs who are the single tax payers, in case of making settlements using the POS terminals with issuance of a fiscal (cash) check, the receipt date of income for its taxation is the date indicated in a fiscal (cash) check.

According to position of the Ministry of Finance, provisions of the Tax Code of Ukraine (hereinafter – Code) are unified for application by the single tax payers, both individuals-entrepreneurs and legal entities.

Previously, the State Tax Service held position that for legal entities – single tax payers of Group III, the receipt date of income for making settlements for products, works and services is the receipt date of funds to the single tax payer in a monetary (cash and/or non-cash) form.

Therefore, legal entities that pay the single tax are asked to take these changes into account maintaining records and reporting.

Reminder! Sub-paragraph 2 Paragraph 292.1 Article 292 of the Code stipulates that income of the legal entity – single tax payer of Group III is any income, including income of representative offices, branches, departments of such legal entity, received during the tax (reporting) period in a monetary form (cash and/or non-cash); tangible or intangible form, as defined in Paragraph 292.3 Article 292 of the Code.