Newsletter № 7. Quarantine innovations for business. What are the nuances to know?

State Tax Service continues a series of publications in the form of newsletters for the taxpayers. Seventh edition is dedicated to innovations for business according to the Law of Ukraine as of 17.03.2020 № 533-IX “On Amendments to the Tax Code of Ukraine and other laws of Ukraine on support taxpayers for the duration of measures aimed to prevent the occurrence and spread of coronavirus disease (COVID-19)”.

Edition contains information about applicable penalties to the taxpayers who are liable for tax violations made during the period from March 1 to May 31, 2020; whether penalties will be applied for reducing tax liabilities and penalties for late payment?

In addition, we suggest finding out for what period of moratorium on audits has been set up and what will be with audits started before March 18, 2020 those have not yet been completed?

We will also inform you about the changed deadline for submitting the annual tax property and income declaration, inform who is exempted from land accrual and payment, as well as from accrual, calculation and payment of the single social contribution.

Topic of changing the timing of introduction of new RCO rules will also be of interest.

The newsletter can be downloaded here.