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Newsletter 1/2022: Innovations of the Law of Ukraine as of 30.11.2021 № 1914-IX “On amendments to the Tax Code of Ukraine and certain legislative acts of Ukraine on ensuring balance of budget revenues” Part 1

, published 18 January 2022 at 08:45

Newsletter 1/2022: Innovations of the Law of Ukraine as of 30.11.2021 № 1914-IX “On amendments to the Tax Code of Ukraine and certain legislative acts of Ukraine on ensuring balance of budget revenues” Part 1. Corporate Income Tax

Newsletter 1/2022 is dedicated to innovations in the corporate income tax, introduced by the Law of Ukraine as of 30.11.2021 № 1914-IX “On amendments to the Tax Code of Ukraine and certain legislative acts of Ukraine on ensuring balance of budget revenues”.

The following changes were considered, namely:

adjustment of financial result in the corporate income tax calculation;

accounting of costs for grants in determining taxation object;

procedure for determining tax liability of taxpayers – producers of electricity by the “green” tariff;

accounting of costs for royalty payments in determining taxation object;

application of differences in using the reserve of doubtful debts and expected credit losses (reduction in the usefulness of assets);

composition of individuals entitled to the corporate income tax benefits.

Read the Newsletter here.