Taxation of company profits in Ukraine from 01.04.2011. — to understand for «five minutes»

With the entry into force of the Tax Code of Ukraine has changed the procedure for calculating the tax on profits. On the one hand, the Tax Code of Ukraine continues to provide records of income and expenses (including non-«gross» in the interpretation of the «old» Law), the need for depreciation of fixed assets, documentation of expenses, etc. On the other hand — a thing of the concept of non-existence of the first event, the number of groups of assets and their depreciation rules have changed, in part «to shuffle» items of income and expense, partially altered the taxation of a special kind. In general, the «simple» accountant information for studies in the mode of chronic time pressure, of course, increased. Therefore, in this article, we briefly describe the «new» tax accounting for income taxes in accordance with Tax Code of Ukraine.

On April 1, 2011 subject to tax in the reporting period is the aggregate income of the payer, reduced the cost of goods (works, services) and on the amount of other expenses of the reporting period. A list of fees is given in Art. 135.4 Tax Code of Ukraine, and other income — in art. 135.5 Tax Code of Ukraine. However, Tax Code of Ukraine does not account for income tax purposes certain types of income, such as — the prepayment, the amount of value added tax, various kinds of compensation, tax return, etc. A complete list of «excluded» income can be found in Art. 136 Tax Code of Ukraine. Now, in general, income is recognized for tax purposes on the date of transfer of ownership of the goods sold. And while performing work or providing services — by the date of act or of this original document.

As before, the basis for allocation in the tax records of costs incurred costs is their confirmation of primary accounting documents. Under the new rules of tax accounting expenses in the calculation of income tax, now consist of the operating costs of the company and other expenses. The list of such costs is given in Art. 138, 140,141Tax Code of Ukraine overhead and administrative costs, «marketing» expenses, other operating and financial expenses, etc.). Excluded from the cost of expenses listed in Art. 138.3 and 139 of the Tax Code of Ukraine (for example, the cost of non-economic activities, payments to the principal paid in advance, the amount of taxes, penalties, etc.) Non-forming cost of goods sold, services are considered as expenses of the period in which the recognition of a gain from such operations. Other costs generally relate to the costs of the accounting period, which have been carried out, subject to the special rules of art. 138.5 Tax Code of Ukraine. Note that Art. 139.1.12 Tax Code of Ukraine provides for a «non-inclusion» in expenses from the acquired businesses — edinschikov goods, works or services, but there are exceptions. Still, tax accounting provides a special dual-use cost accounting (Article 140 Tax Code of Ukraine) — on clothing, training, warranty, advertising, maintenance of social institutions, travel expenses, losses, etc. According to Art. 140.4 Tax Code of Ukraine assessment of disposal «similar» stocks performed according to the methods specified in paragraphs (c) Tax Code of Ukraine.

The cost of acquisition of fixed assets, fixed assets and other related costs (Art. 144 Tax Code of Ukraine) are subject to depreciation and subsequent inclusion in the relevant type of expenditure (Article 138.10 Tax Code of Ukraine). Rules for calculating the amortized cost of the property for tax purposes established art. 146 Tax Code of Ukraine. Note that the value of objects up to 1000 UAH. in 2011, to the fixed assets do not belong (Article 14.1.138 Tax Code of Ukraine). Classification, as well as methods of calculating depreciation for tax purposes for different groups of fixed assets and other non-current assets listed in Art. 145 Tax Code of Ukraine. With 01.04.11g. of the fixed assets in the tax records have disappeared — now accounting is per object. For depreciation «on the new» should be on 01.04.2011. up «inventory» list of fixed assets and non-current assets to be taken into account for tax purposes. After that, for each asset to a select group, the period of use, etc. Need to look very carefully at this transformation, because of the conduct of such a «transformation» will depend on the calculation of depreciation for tax purposes in the future.

For certain types of transactions Tax Code of Ukraine provides for a special procedure for the recognition of income and expenses for tax purposes. The operations of special form (Art. 153.159 Tax Code of Ukraine) operations are settled in foreign currencies with related parties to the debt claims and liabilities, according to the assignment of the claim, the settlement of bad and doubtful debts, leasing operations, securities trading and disposal of assets, barter transactions, joint activity, reorganization of legal persons, etc. In addition, special conditions are provided for the taxation of insurance companies, agricultural producers, non-profit institutions, non-residents, energy-efficient facilities. In addition, the conduct of tax accounting must take into account the transitional provisions for income tax provided in Section XX Tax Code of Ukraine. Using the navigator terms mentioned in the Tax Code of Ukraine, with reference to a specific article of the Tax Code, where they are treated, can be found here.

The tax rate on profits from 01.04.11g. by 31.12.11g. 23% of the tax base. Then gradually decreased to 16% in 2014. The order of exemption from income tax provided in st.154 Tax Code of Ukraine (exempt organization of disabled people, «small» business (conditions — art. 154.6bTax Code of Ukraine), pre-school and educational institutions, merchants, baby food, etc.). For businesses that use energy-efficient technology, art. 158 Tax Code of Ukraine also provides benefits. In the case where the result of the payer for the year will be a loss, he has the right to include such costs in the amount of the first quarter of next year (Article 150 Tax Code of Ukraine). The presence of damages can not be the reason for the refusal to accept the tax reporting. If the losses declared for more than four tax periods — the tax authorities have the right to conduct unscheduled tax audit. Periods — the first quarter, six months, nine months and a year. In 2011, the tax periods are determined on an accrual basis in the second quarter. Notice now Art. 123.1 Tax Code of Ukraine provides for the imposition of fines and 25% with a decrease in the negative value of the object of taxation to income tax as a result of a tax audit. That is, if the verification of tax will reduce the amount of losses (even if the losses «will») — to be fine, too!

Of course, it is impossible to consider at one time all the innovations of income tax imposed by Tax Code of Ukraine. Hopefully we at least «in general terms» set out the tax account for the «simple» accountant. Good luck in your work!