Rolan Bondarets, Author at Finance Business Service

Sales Threshold without Cash Registers Has Been Raised to 250-500 thousand UAH per Year

Published: Rolan Bondarets | 20/12/2017 | news

The Cabineta of Ministers of Ukraine has increased the threshold of the annual sales volume without using the RCT (registrar of clearing transactions) from 75-200 thousand UAH up to 250-500 thousand UAH per one structural subdivision of the subject, depending on its organizational form and activity. Such changes are provided for by the Resolution of the CMU, as reported by the information agency “Interfax-Ukraine”. As noted, it will enable business entities that have several separate objects of trade (provision of services) not to use the RCT in the event that none of them exceeds the threshold of clearing transactions. According to the explanatory note, which the IA possesses, the Resolution also provides that the enterprises which annual income exceeds UAH 1 million are required to use cash registers, regardless of the type of their activity. The document does not apply to economic entities that carry out retail trade of excisable goods, as well as technically complex household goods. The Resolution defines a list of activities that are exempted from compulsory use of the RCT, in particular the provision of public services on the territory of villages. According to the...

On December 15, Amendments to the Procedure for Issuing Individual Licenses of the NBU for Transfer of Foreign Currency Abroad Came into Effect

Published: Rolan Bondarets | 15/12/2017 | news

According to the report of press service of the National Bank of Ukraine, today, on December 15, the amendments to the procedure for issuing individual licenses for the transfer of foreign currency abroad came into effect. The innovations provided by the Resolution of the Board of the NBU No.130 of December 14, 2017 “On Amendments to the Regulations on the Procedure for issuing individual licenses for the transfer of foreign currency outside Ukraine for the payment of bank metals for certain currency transactions” include: Approval of the list of documents required to obtain an individual license of the NBU. In addition, in order to prevent capital outflows abroad, the requirements for the documents submitted to the National Bank were strengthened, in particular, through the Regulator’s right to request such documents in case of need. Simplification of a number of currency transactions for banks. The National Bank has specified the list of operations for transferring foreign currency by business entities-residents abroad, which do not require the receipt of an individual license by the NBU. Standardization of the possibility of transferring funds as a...

Automatic Blocking System of TI Will Be Temporarily Suspended

Published: Rolan Bondarets | 13/12/2017 | news

The changes provided by the amendments to the draft Law “On Amendments to the Tax Code of Ukraine regarding the Balance of Budget Revenues in 2018” has been made in the procedure of the blocking system of tax invoices. According to the announcement made on December 7, 2017, the following has been done: 1. Clause 74.2 of the TCU has been deleted, which stipulates that the URTI ensures constant automated monitoring of the compliance of TI/AC with the criteria for assessing the degree of risk sufficient to suspend the registration. This provision will come into force on the day following the day of the publication of the Law. It is also noted that, within two months from the date of entry into force of the Law, the Cabinet of Ministers must: determine the procedure for suspension of the registration of TI/AC in the URTI in accordance with clause 201.16 of the TCU; ensure the revision and bringing of the normative legal acts in compliance with this Law by the ministries and other central executive bodies. In addition, the Cabinet is obliged, within a period of three months from the date of entry into force of this Law: to adopt the normative legal acts which are...

Ministry of Finance Reforms Institution of Financial Liability for Tax Violations

Published: Rolan Bondarets | 30/11/2017 | news

Recently the Ministry of Finances of Ukraine, together with the experts from the interactive tax platform TaxLink, has developed a bill “On Amendments to the Tax Code of Ukraine regarding the improvement of the prosecution system for violation of tax laws”. The essence of the document is to reform the liability for tax violations provided by the current legislation. First of all, the bill introduces more effective mechanisms for the settlement of tax disputes in cases when the violation of tax law happened not due to the fault of the payer. In addition, it is proposed to introduce the principle of fault liability of taxpayers which is inherent in all branches of Ukrainian legislation, in contrast to the current liability of the payer without fault. Therefore, the last one will be considered guilty if found guilty that he was able to comply with the relevant rules and regulations, but did not take the necessary measures for this. In this regard, when considering the verification materials by the supervisory authority, the documents of the taxpayer may be subject to the examination that show his due diligence. Another significant innovation is the introduction of the system of...

Obtaining a license for security activities

Published: Rolan Bondarets | 22/11/2017 | news

Clients ask Finance Business Service questions about obtaining a license for security activities. These matters are solved by the specialists of the company in the shortest possible time. Despite the fact that the procedure for obtaining a license has been changed to become simpler, the license applicants have certain questions and there are some nuances that we would like to pay special attention to. We should note at once that, on obtaining a license, the enterprise may not have security guards on the staff. This issue is the most relevant for a newly created business entity, which does not have staff members yet, but intends to engage in this type of activity. At the same time, an expert in the organization of security measures is extremely necessary, without whom a license will not be issued. We pay attention that he can be the head of the enterprise or his deputy (deputies). There are rather stringent requirements to a specialist in the organization of security measures, which he must comply with and which must be confirmed by certain documents. Finance Business Service advises you to trust the assessment of the completeness of the package of documents, confirming the...

Next changes in the criteria for risk assessment

Published: Rolan Bondarets | 21/11/2017 | blog

At the beginning of November 2017, we have already analyzed the draft proposed by the Ministry of Finance of Ukraine on amending Order No.567 of 13.06.2017 “On approval of the criteria for risk assessment sufficient to suspend the registration of tax invoice/adjustment calculation in the Unified Register of Tax Invoices” (hereinafter - Criteria). At present, the changes to the criteria have been made and entered into force on November 17, 2017. They are approved by the Order of the Ministry of Finance No.926 of 09.11.2017 and registered with the Ministry of Justice of Ukraine under No.138/31250 on November 13, 2017. It should be noted that the changes that have been made and their project differ significantly from each other. The experts of Finance Business Service have been considering the essence of the latest innovations and how they will affect the business. First, the clause 3 of the Criteria is set out in a new version, namely in the part that concerns the automatic recording of the information by the monitoring system, submitted by the taxpayer in the prescribed form. As for the payers, agricultural commodity producers, automatic accounting of information...

Ministry of Finance Has Approved Next Changes to Criteria for Blocking TI

Published: Rolan Bondarets | 20/11/2017 | news

The Order of the Ministry of Finance of 09.11.2017 No.926 “On approval of changes to the criteria for assessing the risk degree sufficient to suspend the registration of tax invoice/adjustment calculation in the Unified Register of Tax Invoices” entered into force. The innovations approved by the document assume: Automatic accounting of the information from the technological table (hereinafter referred to as “the Table”) by the Monitoring system and for the payers whose indicators D and P, calculated in the order given in subpar. 4 clause 5, have the following dimensions: D> 0.02, P˂Pm × 1,3, and the volume of goods/services deliveries in TI/AC, compiled from 01.01.2017 in the URTI listed in the Table, is more than 25% of the total volume of supplies for the relevant period; Making the decision of non-inclusion of information from the Table by the SFS Commission in case if the supervisory authority receives the information indicating that the taxpayer has provided untrue data in the Table or about the riskiness of the operation. If such information has been automatically taken into account by the Monitoring system, after making the decision of non-inclusion of the...

Regulation of Electronic Document Circulation with Supervisory Authorities Has Been Changed

Published: Rolan Bondarets | 15/11/2017 | news

Finance Business Service draws attention to the event that from November 15, 2017, the Order of the State Tax Administration of Ukraine of April 10, 2008, No.233, registered in the Ministry of Justice of Ukraine on April 16, 2008, under No.320/15011 has become invalid, by which the “Instruction for the preparation and submission of tax documents in electronic form by means of telecommunications” was approved. Instead of this document, the issues of electronic document circulation with the supervisory authorities, from November 15, 2017, are regulated by the Order of the Ministry of Finance of June 6, 2017, No.557, registered in the Ministry of Justice of Ukraine on August 3, 2017, under No.959/30827, by which “Procedure for the exchange of electronic documents with the supervisory authorities” was...

Procedure for Provision of General Tax Advice Came into Force

Published: Rolan Bondarets | 07/11/2017 | news

On November 3, 2017, the Order of the Ministry of Finance dated 27.09.2017 No.811 “On Approval of the Procedure for provision of general tax advice” came into force, published in the bulletin “Official Bulletin of Ukraine” No.86. The order consolidates the procedure for the provision of general tax advice by the Ministry of Finance of Ukraine. The approved Procedure, developed in accordance with subparagraph 19-2.1.5 of clause 19-2.1 of Article 19-2 of Section I and clause 52.6 of Article 52 of Chapter 3 of Section II of the TCU stipulates that such advice shall be provided: according to the results of the periodic generalization of individual tax advice provided by the tax authorities to the taxpayers; if there are circumstances that indicate the ambiguity of certain norms of tax and other legislation, which monitoring compliance is carried out by the supervisory authorities. General tax advice is not normative legal acts. General tax advice is approved by the order of the Ministry of Finance of Ukraine and published on its official site within five calendar days from the date of their...

Tax Authorities Will Be Obliged to Register Blocked TI/AC in Case of Violation of Deadline for Making Decision

Published: Rolan Bondarets | 01/11/2017 | news

The Parliament of Ukraine has registered the draft Law No.7240, which provides for the changes to Article 201 of the TCU relating to the registration of TI/AC in the Unified Register of Tax Invoices. The purpose of the bill is to ensure the compliance with the rights, interests and equal conditions of the taxpayers when applying the provisions of the Tax Code in case of ‘blocking” of the TI/AC and violation of the deadline for making decision and/or notification of the taxpayer by the supervisory bodies. So, according to the document, the tax authorities will be obliged to register the blocked TI/AC in the Register in case the decision about registration or refusal to register is not directed to the taxpayer within 5 working...

Author: Rolan Bondarets