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Meeting with the leadership of the Western Interregional Department of the State Tax Service to work with large taxpayers

15/ 04/ 2021
  Communication of the Associations Office with the Western Interregional Department of the State Tax Service to work with large taxpayers continues! On April 15, 2021, a meeting was held with Iryna Korotkova, acting Head of the Western Interregional Department of the State Tax Service to work with large taxpayers. The meeting took place in the format of a dialogue, where participants were able to discuss topical issues of tax legislation. At the meeting, the participants got acquainted with the work of the administration, the report on tax revenues to the budget of the Western region, and raised topical issues of interest to members of the Office of the Association. Among other things, the companies were also interested in the topic of discounting loans. During the meeting, the participants discussed the following: Early loans of both accounts payable and receivable are subject to discount; The Offices experts believe that all companies which report under the provisions of PSBO are obliged to discount loans; The amount of the discount can be amortized until the time of its repayment or recognition of the debt as bad; The effective discount rate is defined as the NBUs average annual refinancing rate and/or the rate calculated on the basis of the following indicators: the interest rate on borrowed funds that the lender would receive if it provided certain amounts, the default risk rate, and inflation rate. In this case, the State Tax Service applies a rate that is lower; In order to use the discount rate of tax when paying funds in favor of a non-resident under bilateral double taxation agreements, in addition to having a certificate of residence, you must also make sure that the recipient of such income is its beneficiary. Otherwise, the payer should use a rate of 15% in the taxation and payment of such income in favor of the non-resident. Iryna Korotkova points out that in case of any problematic issues in the field of tax administration, large taxpayers can contact their assigned management coordinators. This emphasizes that the leadership of the Western Interregional Department of the State Tax Service to work with large taxpayers is open to dialogue within the current legislation of Ukraine. We are sincerely grateful to the management of the Department for openness in communication and initiative for further cooperation, as well as to Ivan Durkach for the joint moderation of the meeting!

Communication of the Association’s Office with the Western Interregional Department of the State Tax Service to work with large taxpayers continues!

On April 15, 2021, a meeting was held with Iryna Korotkova, acting Head of the Western Interregional Department of the State Tax Service to work with large taxpayers. The meeting took place in the format of a dialogue, where participants were able to discuss topical issues of tax legislation.

At the meeting, the participants got acquainted with the work of the administration, the report on tax revenues to the budget of the Western region, and raised topical issues of interest to members of the Office of the Association. Among other things, the companies were also interested in the topic of discounting loans.

During the meeting, the participants discussed the following:

  • Early loans of both accounts payable and receivable are subject to discount;
  • The Office’s experts believe that all companies which report under the provisions of PSBO are obliged to discount loans;
  • The amount of the discount can be amortized until the time of its repayment or recognition of the debt as bad;
  • The effective discount rate is defined as the NBU’s average annual refinancing rate and/or the rate calculated on the basis of the following indicators: the interest rate on borrowed funds that the lender would receive if it provided certain amounts, the default risk rate, and inflation rate. In this case, the State Tax Service applies a rate that is lower;
  • In order to use the discount rate of tax when paying funds in favor of a non-resident under bilateral double taxation agreements, in addition to having a certificate of residence, you must also make sure that the recipient of such income is its beneficiary. Otherwise, the payer should use a rate of 15% in the taxation and payment of such income in favor of the non-resident.

Iryna Korotkova points out that in case of any problematic issues in the field of tax administration, large taxpayers can contact their assigned management coordinators. This emphasizes that the leadership of the Western Interregional Department of the State Tax Service to work with large taxpayers is open to dialogue within the current legislation of Ukraine.

We are sincerely grateful to the management of the Department for openness in communication and initiative for further cooperation, as well as to Ivan Durkach for the joint moderation of the meeting!

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