Enterprises of Ivano-Frankivsk region transferred 267 million UAH of the income tax to the consolidated budget during January – April 2020, which is 67 million UAH more than during the corresponding period in 2019. This was reported by the Main Directorate of the STS in Ivano-Frankivsk region.
Specifically, the state budget received 239.1 million UAH of the income tax; local budgets received 27.9 million UAH.
The biggest revenues from the income tax to the state budget were paid by business entities registered at the Main Directorate of the STS in Ivano-Frankivsk region – 104.6 million UAH.
It should be reminded that procedure for calculating and paying the corporate income tax is defined in Article 137 of the Tax Code of Ukraine. The specified tax is accrued by the payer independently at the rate specified in Article 136 of this Code from the accrual base determined in accordance with Article 135 of this Code. Basic (main) corporate income tax rate is 18%. Tax (reporting) periods for corporate income tax are the calendar quarter, half-year, three quarters and year. Tax declaration is calculated with the cumulative total.
The taxpayer is obliged to pay the amount of tax liability specified in tax declaration submitted by him / her within 10 calendar days following the last day of the relevant deadline provided by the Tax code for submitting tax declaration.
Please note that May 12, 2020 is the last day for submitting the corporate income tax tax declarations to the tax authorities for the I quarter by taxpayers whose tax period is equal to the calendar quarter and submission of quarterly financial reporting.
In addition, May 20, 2020 is the term for payment of corporate income tax for the I quarter of current year.