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PENALTIES FOR SUBMISSION OR LATE SUBMISSION OF TAX DECLARATIONS

The Tax Code of Ukraine provides for penalties for non-submission or late submission of tax returns or non-compliance with the requirements for making changes to tax returns.

 What fines are provided?

– for non-submission (except in cases when the tax return is not submitted) or late submission by the taxpayer or other persons obliged to accrue and pay taxes and fees, tax returns (calculations), as well as other reporting, the obligation to submit to the authorities control is provided by the TCU – a fine of 170 hryvnias for each such non-submission or late submission;

– for repeated violations during the year – a fine of 1020 hryvnias for each such non-submission or late submission;

– non-fulfillment by the taxpayer of the requirements provided by paragraphs three – five of item 50.1 of Art. 50 TCU, on the conditions of independent amendments to tax reporting – a fine of 5 percent of the amount of self-accrued understatement of tax liability (underpayment);

– in case of independent accrual of the amount of tax liabilities, other penalties provided for in Chapter 11 of Section II of the TCU shall not be applied.

The above rules are provided by Art. 120 TCU.

For violation of the deadline for registration of the tax invoice there is a fine in the amount of:

– 10% of the amount of value added tax specified in such invoice – in case of violation of the registration deadline up to 15 calendar days;

– 20% of the amount of value added tax – in case of violation of the registration period from 16 to 30 calendar days;

– 30% of the amount of value added tax – in case of violation of the registration period from 31 to 60 calendar days;

– 40% of the amount of value added tax – in case of violation of the registration period from 61 to 365 calendar days;

– 50% of the amount of value added tax – in case of violation of the registration deadline for 366 or more calendar days.

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