Explanation of Revenues Ministry

Ministry of Revenues published the draft of a new tax form to calculate amounts of income accrued (paid) for the benefit of taxpayers and the amount of tax withheld, and Procedure of filling it out.

In order to align regulations of the Ministry of revenue and duties of Ukraine with the Law of Ukraine of 4 July 2013 № 404 - VII «On Amendments to the Tax Code of Ukraine in connection with the administrative reform" tax authorities have developed a draft order which offers to approve:

- new form of the Tax calculation of the sums of income accrued (paid) for the benefit of taxpayers and the amounts of tax withheld (form № 1DF);

- Procedure for filling it out and filing by tax agents to supervisory authorities.

Changes in the form itself are of rather cosmetic nature. For example, throughout the document "state tax authorities" changed to "supervisory authorities".

The new form is missing the line "Amount of tax debt as at 01.01.2011 (UAH, cop.)"

The Procedure specifies that the tax calculation is filed by tax agents in one of the following:

- by electronic means in electronic form in compliance with the conditions for registration of the electronic signature of the responsible person of the tax agent in accordance with the law;

- in hard copy with electronic form on electronic storage;

- in paper form, the number of lines in the Tax calculation not exceeding five.

Directory of revenue features is supplemented with new items: income from the sale of livestock products (paragraph 180), income from scrap and precious metals (paragraph 181), income from transactions of conversion of securities (paragraph 182), income from operations with currency values (other than securities) (paragraph 183), investment gains from debt obligations of the National Bank and treasury of Ukraine, issued by the Ministry of Finance (paragraph 184).