Cases of submitting notification of acquisition or termination of participation in the controlled foreign companies, as well as the deadline for its submission are defined in Sub-paragraph 39 Note 2.5.5 Paragraph 39 Note 2.5 Article 39 Note 2 of the Tax Code of Ukraine (hereinafter – Code).
Resident – individual of Ukraine or legal entity resident of Ukraine is obliged to notify the supervisory authority of:
- each direct or indirect acquisition of share in the foreign legal entity or the beginning of actual control over the foreign legal entity, which leads to the recognition of such legal entity as a controlling entity according to requirements of Article 39 Note 2 of the Code;
- establishment, creation or acquisition of property rights to share in assets, income or profit of entity without the legal entity’s status;
- each alienation of share in the foreign legal entity or termination of actual control over the foreign legal entity, which leads to the loss of recognition of such legal entity as a controlling individual according to requirements of Article 39 Note 2 of the Code;
- liquidation or alienation of property rights to share in assets, income or profit of entity without the legal entity’s status.
Notification is sent to the supervisory authority within 60 days from the date of such acquisition (commencement of actual control) or alienation (termination of actual control).
Form and procedure for submission to the supervisory authority of Notification on the acquisition (commencement of actual control) or alienation of share (termination of actual control) by resident in the foreign legal entity or property rights to share in assets, income or profit without the legal entity’s status are approved by Order of the Ministry of Finance of Ukraine № 512 as of 22.09.2021.