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KPMG in Ukraine Webinar: To discount or not to discount

11/ 06/ 2021
  Date: 30 June 2021 Event duration: from 11:00 to 12:00. Format: webinar Language of event: Ukrainian / Russian. According to the Unified State Register of Court Decisions, in 5 months 2021 alone there have been about 38 cases where taxpayers appealed against an additional charge of income tax by the tax authorities based on the results of long-term debt discounting. It is for you to decide whether this number is large or small. However, the issue of discounting is still relevant. The regulatory authorities carefully analyse the terms of contracts and procedures for settlement, and apply the provisions of both NAS and IFRS for discounting debts. If the topic of discounting debts is one that affects you, please join our webinar where we will talk about practice of discounting as interpreted by the tax authorities, consider interesting court cases, and find ways to minimise existing tax risks. The webinar programme covers the following issues: Regulatory authority approaches to discounting; Determining and confirming an effective interest rate; Recalculating exchange rate differences, in case of discounting a foreign currency loan; Debt to capital conversion: accounting and tax implications; Analysis of current case law; Ways to minimise risks and answers to your questions. KPMG Speakers: Victor Shekera, Director, Corporate Tax, KPMG in Ukraine. Victor is a certified auditor of Ukraine (Series A Certificate, 1995) and has 30 years of experience in providing consulting services in the field of taxation, accounting (including tax support for transition to IFRS), and preparation and updating of accounting policies in accordance with NAS and IFRS. Victor also has extensive experience in conducting tax audits of enterprises in various sectors of the economy. Olha Sich, Senior Tax Consultant, Corporate Tax, KPMG in Ukraine. Olga has worked in KPMG’s specialist tax and accounting team since 2017 and participates in consulting projects on accounting, taxation, preparation of accounting policies, and ‘preventive’ tax audits. She is also experienced in the field of transformation, consolidation, and audit of financial statements in accordance with NAS and IFRS. Who will be interested in this webinar? The webinar will be useful for chief accountants, heads of financial and tax departments, as well as those directly involved in accounting and/or preparing financial and tax reports. If you are interested in the webinar, please register by 29 June 2021. Participation in the webinar is free of charge. Applications from consulting, law, and audit companies will not be accepted. KPMG in Ukraine is ready to answer any business questions you might have on the topic. Please send your questions to us via the following e-mail adress with the topic To discount or not to discount in the subject line. We look forward to seeing you at our webinar!  

Date: 30 June 2021

Event duration: from 11:00 to 12:00.

Format: webinar

Language of event: Ukrainian / Russian.

According to the Unified State Register of Court Decisions, in 5 months 2021 alone there have been about 38 cases where taxpayers appealed against an additional charge of income tax by the tax authorities based on the results of long-term debt discounting.

It is for you to decide whether this number is large or small. However, the issue of discounting is still relevant. The regulatory authorities carefully analyse the terms of contracts and procedures for settlement, and apply the provisions of both NAS and IFRS for discounting debts.

If the topic of discounting debts is one that affects you, please join our webinar where we will talk about practice of discounting as interpreted by the tax authorities, consider interesting court cases, and find ways to minimise existing tax risks.

The webinar programme covers the following issues:

  • Regulatory authority approaches to discounting;
  • Determining and confirming an effective interest rate;
  • Recalculating exchange rate differences, in case of discounting a foreign currency loan;
  • Debt to capital conversion: accounting and tax implications;
  • Analysis of current case law;
  • Ways to minimise risks and answers to your questions.

KPMG Speakers:

Victor Shekera, Director, Corporate Tax, KPMG in Ukraine. Victor is a certified auditor of Ukraine (Series A Certificate, 1995) and has 30 years of experience in providing consulting services in the field of taxation, accounting (including tax support for transition to IFRS), and preparation and updating of accounting policies in accordance with NAS and IFRS. Victor also has extensive experience in conducting tax audits of enterprises in various sectors of the economy.

Olha Sich, Senior Tax Consultant, Corporate Tax, KPMG in Ukraine. Olga has worked in KPMG’s specialist tax and accounting team since 2017 and participates in consulting projects on accounting, taxation, preparation of accounting policies, and ‘preventive’ tax audits. She is also experienced in the field of transformation, consolidation, and audit of financial statements in accordance with NAS and IFRS.

Who will be interested in this webinar?

The webinar will be useful for chief accountants, heads of financial and tax departments, as well as those directly involved in accounting and/or preparing financial and tax reports.

If you are interested in the webinar, please register by 29 June 2021.

Participation in the webinar is free of charge. Applications from consulting, law, and audit companies will not be accepted.

KPMG in Ukraine is ready to answer any business questions you might have on the topic. Please send your questions to us via the following e-mail adress with the topic “To discount or not to discount” in the subject line.

We look forward to seeing you at our webinar!

 

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