Order of the Ministry of Finance of Ukraine dated 31.12.2020 № 840 “On approval of the Form and Procedure for submission of Notification on concluding forward, futures contract or contract for operations with raw materials” (hereinafter – Order № 840) approved the Form and Procedure for submitting Notification on concluding forward, futures contract or a contract for operations with raw materials.
Also, Order of the Ministry of Finance of Ukraine dated 04.04.2018 № 405 “On approval of the Form and Procedure for submission of Notification on concluding forward or futures contract”, registered at the Ministry of Justice of Ukraine on 03.05.2018 № 547/31999 was revoked.
The main changes to Notification’s form are the following:
- block “parties of the contract” is divided into fields “Name”, “Code” and is amended with new ones: “Registration country code” and “Name of registration country”;
- block “Contract” is amended with the field “Term of the contract”. Field “Type of contract” is amended with a new mark “For operations with raw materials”, which is marked with “x” in case of forward or futures contract for operations with raw materials;
- block “Terms of the contract” is amended by new columns 14-18:
terms of payment according to which the buyer and seller are settled (prepayment, payment against submission / receipt of documents, combined payment, commercial credit, etc.) are indicated in column 14;
share of prepayment in percentage points (for example, 30%) is indicated in column 15;
column 16 should contain the payment term in days for relevant payment terms stipulated in the contract: for prepayment – the number of days from the date of payment (fixed or approximate) to the date of shipment (fixed or approximate) with the sign “-“; for payments against submission / receipt of documents – the number of days from the date of presentation of commercial documents (including if payment is made on financial documents accompanied by commercial documents); for combined payments – the average number of days (for example, for payment terms that require payment of 30% of the cost 30 days before the date of shipment and 70% within 30 days after submission / receipt of documents, indicate 12 days: -30 days x 30 % + 30 days x 70%); for deliveries on commercial credit terms – the number of credit days from the date of shipment of goods; for other payment terms – the number of days may be indicated according to usual payments terms between the parties;
amount of penalties (as a percentage of cost of undelivered goods or amount of unpaid funds (if any) is indicated in column 17;
information on the surcharges or discounts to the cost of goods in value or percentage equivalent (for example, discounts due to loss of consumer goods or non-compliance of its characteristics with terms of the contract; expiration (approaching expiration date) of storage (suitability, sale) of goods, etc.) is indicated in column 18.
Taxpayer sending such Notification confirms that coordination of essential terms of the contract (agreement), particularly characteristics and prices of goods, volume, terms of supply, payment and liability was carried out by parties of controlled operation at the time of conclusion of such contract.
Please note that the taxpayer should inform the STS about conduction of controlled operation on the basis of forward, futures contract or a contract for operations with raw materials by providing a Notification within 10 working days from the date of conclusion of contract by electronic means in the electronic form (Sub-paragraph 39.3.3.3 and 39.3 .3.5 Paragraph 39.3 Article 39 of the Tax code).
STS on the official web portal published the electronic form of such Notification in the standard format based on the eXtensibleMarkupLanguage (XML) specification and provided opportunity of its submission in the electronic form J0147703 through the Taxpayer’s Electronic Cabinet.