On Oct. 28, UKRN GVT issued rules re introduction of electronic audits.
UKRN GVT approved changes the Tax Code of Ukraine and law No. 40onaccounting and financial reporting in Ukraine on the introduction of electronic audits (e-audit).
Summary
Changes have been made in the obligation of taxpayers to submit to the State Tax Service exported from the original accounting system reliable data: on the availability.
Also condition of assets, equity, liabilities, and changes in the financial and economic condition of the taxpayer for reporting tax in the form of a standard audit file (SAF-T).
The file is reported within 60 calendar days after the last calendar day of the tax year.
UKRN GVT also established the responsibility for non-submission, late submission, submission with errors of the standard audit file (SAF-T) for tax Ukrainian tax payers.
The law on accounting and financial reporting in Ukraine was amended to introduce improvement of risk-oriented approaches at pre-verification and verification stages.
As well as increasing the speed, accuracy and efficiency of inspection results as well as creating opportunities for taxpayers to self-check the submitted tax returns.
Reducing the number of tax requests to taxpayers; reduction of tax offenses/litigation.
And finally the reduction of personal contacts between the taxpayer and the controlling body with the goal to reduce the influence of the human factor in financial reporting.
Effectiveness
Obligations introduced by the amendments for large taxpayers will enter into force from Jan. 1, 2025, and for VAT taxpayers - from Jan. 1, 2027.
