Ukraine | Legislation effective from January 1, 2022

14/12/2021

1. VAT taxation for foreign electronic service providers
E-service providers (non-residents) will be required to register as VAT payers and submit simplified tax reporting, if the volume of their e-services supplies to individuals in Ukraine in 2021 exceeds UAH 1 million.

2. Annual submission of statements of ultimate beneficial owners
Ukrainian companies are obliged, within 14 calendar days from the date of their state registration and further on, to submit information on the ownership structure annually to confirm the information on the ultimate beneficial owners.

3. Mandatory use of payment transaction recorder by individual entrepreneurs
Individual entrepreneurs who are payers of the single tax of the second-fourth group and make payments in cash are required to start using ordinary and / or software registrars of settlement transactions in their economic activities.

4. Tax incentives for the import and supply of electric vehicles
Temporarily, until January 1, 2026, transactions on the import into Ukraine and the supply on the territory of Ukraine of vehicles equipped with electric motors, as well as new cars with internal combustion engines operating exclusively on compressed or liquefied methane or biogas, are exempted from VAT.

5. Simultaneous transfer of ownership on real estate and land
From January 1, 2022, a provision comes into force, according to which in the case of acquiring ownership of an immovable property (residential building (except for an apartment building), another building or structure), an object of construction in progress located on a land plot (except for state or communal land), ownership of such a land plot is simultaneously transferred from the previous owner of such an object to a new owner without changing the intended purpose.

6. Changes in the procedure for filing of financial statements
The following changes are essential:
• Enterprises that are required to publish annual financial statements must submit to state statistics and tax authorities by February 28 of the year following the reporting year, two forms – balance sheet and statement of financial results;
• For enterprises that are required to publish annual financial statements, the deadline for submitting a full set of statements has been extended from February 28 to April 30 or June 01 – depending on the legal requirements regarding the date of publication of financial statements;
• The deadline for submitting interim financial statements by enterprises has been extended from the 25th to the 30th day of the month following the reporting quarter.

How SCHNEIDER GROUP can help

If the issues described above are relevant to your business, please contact us. SCHNEIDER GROUP specialists in Ukraine will provide you with expert advice and support to solve them.

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