Controllers of controlled foreign companies, attention!

Press service of the State Tax Service of Ukraine, published 16 August 2023 at 09:41 Chapter: News

State Tax Service of Ukraine reminds of an obligation to submit to the controlling body the Notification on the establishment of a trust, fund, institution or other entity according to Article 39² of the Tax Code of Ukraine.

Information regarding definition of the controlled foreign company, controller of the controlled foreign company, cases of the need to submit Notification, as well as terms of its sending were repeatedly stated in previous reports of the State Tax Service, in particular:

General information about the controlled foreign company; 

Find out what is the controlled foreign company and controlling individual? 

Need to submit notification on the establishment of trust, fund, institution or other entity;

Submit notification to the State Tax Service, if you are owner, co-owner or person who exercises control over a foreign company

It's easy to fill out notification on the controlled foreign company without mistakes!

In addition, please note that penalties and/or fines are not applied for late submission of the Notification. More details about application of fines in relation to activities related to the controlld foreign company were provided by the State Tax Service in the notice "Reporting on controlled foreign companies and liability for violations related to its submission".  

At the same time, we inform that this position is set out in individual tax consultation No. 2351/ITC/99-00-23-03-02-09 dated 08.08.2023, which is registered in the Unified Register of Individual Tax Consultations, which is posted on web portal of the State Tax Service at the link https://cabinet.tax.gov.ua/registers/ipk.