Adjustment of the financial results before income tax under clause 140.5.4 of the Tax Code
Since a taxpayer may comply with the procedure of identifying controlled or uncontrolled transactions as well as apply the methodology for determining compliance of the price of such transactions with the “arms’ length” principle under Art. 39 of the TCU only on the basis of the tax (reporting) year, and taking into account position of the Ministry of Finance of Ukraine (letter of June 19, 2018, №11210-09-10/16613) adjustment (increase) of the taxpayer’s financial result in accordance with paragraphs. 140.5.4 Clause 140.5 of Art. 140 of the TCU shall not be made on based on the tax (reporting) quarter, half year, 9 months.
SFSU noted the above in the ruling placed in section 102.13 of the public information source ZIR.
PIT on compensation to employee for the use of his own car
The amount of compensation payable by a legal entity to a hired employee for the use of his own car for business purposes qualifies as income of such an employee, in particular as additional benefit subject to personal income tax on general basis.
SFS noted the above in its individual tax ruling of January 15, 2018 №143/6/99-99-13-02-03-15/ІПК.
Receipt of refundable financial aid in the amount exceeding UAH 50,000
In its individual tax ruling of August 30, 2018 №3780/ІПК/06-30-14-06-14 SFSU noted that restrictions for cash settlements in the amount of UAH 50,000 applies exclusively to settlements between a business entity and an individual for goods, works, services. Restriction does not apply to employment related payments, temporary disability benefits (including pregnancy related payments) and to refundable financial assistance.