Articles about accounting, taxes, audit, legal matters and business operations.
8 min read
“UHY Prostir became a great school of an accountant’s life”: an interview with Anastasiia Kozlenko, Payroll Project Manager
For almost ten years Anastasiia Kozlenko has been growing with UHY Prostir: from an accounting assistant in her first year at university to head of the payroll practice. First steps in the profession, payroll processes and teamwork.
9 min read
“Even the best process won’t work without a team”: an interview with Ilona Tanova, COO of accounting outsourcing at UHY Prostir
Accounting outsourcing today is much more than bookkeeping and preparing reports. Behind a quality service stand dozens of processes, effective collaboration…
11 min read
An AI agent for business: a practical implementation guide
Artificial intelligence is gradually becoming an integral part of modern business processes. What only a few years ago was seen as an experimental technology…
9 min read
About Teamwork, Growth and a Culture of Openness: An Interview with Viktoriia Drozd, Project Manager at UHY Prostir
A young team, open communication, and opportunities for professional growth — these are the key advantages of working at UHY Prostir that Viktoriia Drozd…
9 min read
How LLCs Can Automate Accounting in 2026
Professional accounting is no longer limited to routine bookkeeping tasks. Today, it directly affects the speed of managerial decision-making, the financial…
11 min read
Taxes for an LLC in Ukraine – Up-to-Date Information for Business
After the registration of an LLC , most business owners focus on sales, their team and company development. Tax matters are often postponed “for later.”…
13 min read
“Automation changes not only processes, but also the role of the accountant”: an interview with Anna Korzh, Project Manager at UHY Prostir
A professional career in accounting often begins with basic tasks and gradually develops into more complex roles, where not only accounting knowledge matters,…
5 min read
The 2026 World Economic Forum in Davos: how AI is changing accounting, audit and the finance function
The global economic order is changing fast, and artificial intelligence is playing an ever greater role in these transformations. At the 56th World Economic Forum…
17 min read
About Expertise, Responsibility, and Team Development: an Interview with Larysa Sterniuk
Professional growth in the field of outsourced accounting takes years of hands-on practice, but it is defined by much deeper things — responsibility, systems…
6 min read
Write-off of Backup Power Supply Equipment by a Company
Generators, uninterruptible power supply systems (UPS), battery packs, and inverters are more than just equipment. For businesses, they are full-fledged…
2 min read
Issue 21 of UHY Global Magazine is Now Available
The 21st issue of UHY Global is now available online . UHY’s international business magazine provides analysis and commentary from the unique perspective of…
10 min read
Never Give Up and Always Believe in Yourself: A Conversation with Nataliia Pinchuk About Her Career Path and Values
A career is always a series of decisions, challenges, and gradual growth — especially at the very beginning, when every experience shapes not only professional…
5 min read
Legal Support of Business: Trends, Challenges, and Professional Principles — an Interview with Olha Petrukhina
Legal support for business in Ukraine today is far more than working with contracts or formal compliance with the law. Martial law, mobilization processes,…
6 min read
Accounting Outsourcing for LLCs
Accounting outsourcing for LLCs has been a practical and effective tool for a long time that helps businesses reduce costs, avoid tax risks, and receive stable…
6 min read
Audit of the Targeted Use of Grants: The Importance of Complying With Donor Conditions
Thanks to grants, nonprofit institutions and organizations can implement large-scale initiatives, attract new resources and partners, acquire new knowledge,…
6 min read
Opening a Company by Power of Attorney
Registering a Limited Liability Company (LLC) is an important step on the path to doing business in Ukraine. However, registering a company on your own can…
11 min read
How an Auditor of the Future Thinks: An Interview with Viktor Safinskyi, Head of Audit at UHY Prostir
The world of auditing is changing rapidly: automation, AI tools, and a consulting-driven approach are on the rise. In this environment, auditors must not only…
4 min read
Accounting of a Charitable Foundation
Effective operation of a charitable foundation is impossible without properly organized accounting . For non-profit organizations, this is not merely a…
5 min read
Systematic Approach, Flexibility, and Client Orientation: Inna Starovoit on the Principles of UHY Prostir’s Accounting Outsourcing Team
Accounting outsourcing is not only about numbers and reports. It’s about structure, attention to detail, and the ability to understand a client’s needs. In…
5 min read
The Importance of Auditing for Trust in NGO Activities
NGO audit is an independent review of an organization’s financial statements and activities that allows assessing their accuracy, compliance with accounting…
4 min read
Audit of Grant Projects: Key Rules and Specifics
The audit of grant projects is a generally accepted process for verifying the use of financial resources allocated to achieve specific project goals. Its…
4 min read
Audit of General-Purpose Financial Statements of NGOs vs. Audit of Project Financial Statements: What’s the Difference
In today’s world, non-governmental organizations (NGOs) play an important role in addressing social, environmental, human rights, humanitarian, and many other…
4 min read
How Innovations Are Changing Accounting Outsourcing: An Interview with Nataliia Lytvynenko, Chief Innovation Officer (CIO) at UHY Prostir
The world of accounting outsourcing is undergoing a transformation, and innovations play a key role in these changes. Artificial intelligence, automation, and…
5 min read
Features of Grant Fund Accounting in NGOs
The functioning of charitable and public organizations (hereinafter – NGOs) in Ukraine in today’s realities is critically important for supporting the…
4 min read
Accounting Services for Dental Clinics and Other Private Medical Facilities
The medical business is a field that requires not only high-quality services but also efficient financial management. For dental clinics and private healthcare…
4 min read
Private Equity in Accountancy
Private equity (PE) is transforming industries around the world, and that is increasingly true of accountancy. Private equity capital is flowing into…
4 min read
"UHY Prostir is a place where support, innovation, and career opportunities prevail: An interview with Hanna Matseva, CEO of accounting outsourcing
In this interview, we spoke with Hanna Matseva, CEO of Accounting Outsourcing at UHY Prostir . Over more than 15 years at the company, Hanna has grown from an…
7 min read
Top HR Record-Keeping Mistakes: How to Avoid Fines in 2025
Many employers believe they maintain documentation properly, but HR audits often uncover typical violations — from missing employment contracts to incorrect…
4 min read
Budgeting for NGOs: the Role of the Accountant
"We were forced to return part of the grant due to budget violations." Unfortunately, more than one non-governmental organization has heard this phrase. While…
5 min read
How to Choose an External Auditor for an NGO: Criteria and Recommendations
Transparency in financial activities and compliance with legal requirements are critical factors for successful development of a nonprofit organization.…
1 min read
New Look UHY GLOBAL Magazine Issue 20 available now
The latest issue of UHY Global magazine is now available to read online . UHY’s unique business magazine includes current analysis and commentary from the…
2 min read
Representative Offices of Foreign Companies in Ukraine: Mandatory Inclusion in the Unified State Register, Recent Legislative Changes, and Action Steps for Businesses
On September 3, 2024, the Resolution of the Cabinet of Ministers of Ukraine No. 1004 came into effect, introducing new requirements for the state registration…
8 min read
What Does Setting Up Accounting in a Company Mean
Setting up accounting in a company refers to the process of organizing and configuring an accounting system from scratch or by improving an existing one to…
5 min read
Restoration of Accounting Records
Maintaining accounting records is the foundation of a stable business operation. However, situations may arise where accounting records need to be restored due…
5 min read
Related Audit Services
Every day, businesses face numerous challenges: changes in legislation, increased regulatory requirements, and the need to ensure financial transparency and…
6 min read
Accounting in IT company
An accountant for IT companies is not just a specialist who monitors financial flows, but also ensures transparency in IT accounting. High competition, rapid…
7 min read
HR Record-Keeping for NGOs
HR record-keeping is the foundation for the stable operation of any non-governmental organization (NGO). The uniqueness of such organizations lies in their…
7 min read
How to Organize (Manage) Accounting in a Nonprofit Organization: Beginner's Guide
For nonprofit organizations (NPOs), transparency is a key element ensuring accountability. Proper accounting enables optimal resource management, fulfillment…
4 min read
Sale of an LLC: specifics, stages, and required documents
When it comes to changing a business or exiting it, selling an LLC becomes a key decision that allows you to unlock new opportunities. It’s not just a…
4 min read
Analysis of Loan Agreements Before Signing
Arranging a loan agreement is an important step that involves long-term financial obligations. Signing it without prior analysis can lead to significant risks…
7 min read
Registration of a charitable foundation: steps, instructions, and common mistakes
Creating a charitable foundation is a legally complex process that opens up opportunities for an organization to operate officially. A registered charitable…
4 min read
Contract Expertise
Legal contract review plays a crucial role in ensuring the reliable operation of a business. Proper drafting and verification of documents help mitigate legal…
5 min read
Objection to a Tax Audit Report
A tax audit often raises concerns among business owners due to potential consequences such as additional tax assessments, fines and even administrative…
5 min read
Work Permit for Foreigners in Ukraine
The process of obtaining a work permit for foreigners in Ukraine is a crucial step for foreign citizens seeking to work legally in the country. This issue is…
4 min read
Verification of Funding Usage and Preparation of Audit Reports
Audit checks are necessary to ensure transparency, accountability and efficiency in the use of financial data for any legal entity. Every organization that…
3 min read
Legal Outsourcing
Legal outsourcing (legal support) refers to specialized services aimed at ensuring the legal security of a company’s activities and effective business…
5 min read
Development of an Accounting Policy for Enterprises Under NAS and IFRS
The development of an accounting policy is a vital step for any enterprise aiming to ensure stable growth, transparency in financial matters, and investor…
5 min read
Personnel Audit
A personnel audit is a thorough evaluation of a company’s personnel documentation and processes, aimed at assessing their compliance with labor laws and…
4 min read
Changes to LLC (Limited Liability Company)
Any business must adapt to change, and LLCs are no exception. Modifications such as a new director, changes to the registered address, membership composition…
4 min read
Audit of Grant Funds Usage
The audit of grant fund usage is a key element in ensuring transparency in the implementation of social, educational, cultural,and environmental projects…
1 min read
UHY-Prostir Partnered with the Conference "Living on Interest"
On November 9 Kyiv hosted the conference "Living on Interest," with UHY-Prostir as an event partner. Throughout the day, investors and experts presented…
7 min read
Accounting for Diia City Residents
Obtaining the status of a Diia City resident unlocks new opportunities for companies, providing significant advantages in accounting and taxation. Lower tax…
5 min read
Audit of Diia.City Residents’ Reporting
The Diia.City residency status provides companies with several benefits, including a special tax regime, the ability to enter into gig contracts with employees…
4 min read
Salary Calculation for Employees of a Non-Governmental Organization
Since non-governmental organizations (NGOs) do not generate commercial profits, their funding largely depends on grants, donations and support from donors.…
8 min read
Investment Income – Where to Report and What to Pay
(Appendix: Summary Table ) Investing in Ukraine is becoming a popular way to grow or preserve capital, but it also comes with tax obligations. In this…
2 min read
UHY Prostir: Your Accounting in Reliable Hands
We offer a comprehensive solution for payroll management and accounting on the SAP Business One platform, localized for Ukraine by TG Consulting. By entrusting…
14 min read
What the head of the NGO has to know about keeping personnel records during martial law
The motivation of a person to be employed might be various, it has to take into account needs and values that people want to achieve through the results of…
4 min read
Financial Transparency of a Company and How to Achieve It
In today's dynamic business environment, financial professionals, managers, and business owners utilize various resources and tools for company development and…
4 min read
Dismissal of employees during martial law
It is important for managers and business owners to navigate the basic rules of labor law in order to guarantee (declare) compliance with the rights of…
4 min read
Does the company risk having employees who work remotely abroad during martial law? What about the wages of such workers?
Many Ukrainians left abroad because of the war, and still continue to leave. When an employee leaves, it is a certain test for the employer. After all, there…
5 min read
Do mobilized workers need to be paid and what job guarantees do they have after military service?
In the conditions of martial law, almost every Ukrainian company is faced with the fact that workers are being mobilized. And, in addition to the need to find…
5 min read
Transition to a simplified tax system for legal entities: what you should know
Business owners and managers turn to our company to help them choose the optimal tax system for their company. To answer this question, we analyze information…
8 min read
Choosing the optimal taxation system for running a business in Ukraine
When clients turn to us for recommendations on which tax system to choose for doing business in Ukraine, we usually provide a list of key criteria that will…
5 min read
How to save jobs during martial law?
I think that every company, public or charitable organization (NGO) in Ukraine, which worked until 2022 and is working now, at least once faced the question of…
4 min read
Mobilization of an employee: documentation and settlements with such an employee
Given the current circumstances, the presence of a mobilized employee in the company's staff becomes more real than imaginary. If this happened and the…
5 min read
Where does proper personnel accounting in business begin.
Our company often receives requests from managers and business owners about how to properly organize effective personnel accounting in compliance with all the…
4 min read
How can a manager ensure that wages and taxes are calculated without errors
Managers, business owners and NGOs often contact our company with the question - How to make sure that wages are calculated without errors? So I propose to…
5 min read
How to achieve effective internal communication
And why it is essential to do so Successful organisations prioritise effective internal communications as much as the interactions they have with customers and…
7 min read
How to open bank a account for a public organization and decide who will keep the accounting records
In the previous article , we reviewed the main procedure of public organization registration in Ukraine, a list of the documents needed and the stages of the…
12 min read
What an NGO Leader Needs to Know About HR Record-Keeping During Martial Law
During martial law, HR record-keeping has its peculiarities for leaders of non-governmental organizations. The accuracy and timeliness of this process…
13 min read
What You Need to Know About Fixed-Term Employment Contracts
For every business entity, it is important to establish an effective system of functioning and interaction between the employer and employees. It is important…
7 min read
Buying a finished (existing) business in Ukraine during the war
You have decided to buy an existing business in Ukraine after 24 th February 2022 full-scale invasion Over the past year and a half, the business environment…
11 min read
How to register the NGO in Ukraine: the procedure of registration and obtaining the taxpayer status
The previous article discussed a list of the main NGO registration forms. We stated that the NGOs we are interested in are divided into two big groups – public…
11 min read
What should NGOs take into account while working with Individual Entrepreneurs FLP (FOP) in Ukraine
As we promised in the previous article , we keep on introducing NGO activities to you, their peculiarities in accounting, and in relations with other business…
3 min read
A driving force for positive change
We are all in business for a purpose. Businesses exist to create and sell products or services and, by doing so, to make profit. A business that does not make…
6 min read
What Managers and Accountants of NGOs Have to Know about Accounting, Taxes and Tax Reporting in Ukraine
Managers and accountants of NGOs often refer to our experts to enquire about the reports NGOs have to submit to government agencies, and the deadlines. Other…
6 min read
Project Accounting for Non-Profit Organizations: Accounting Principles
In these challenging times, as we face new challenges due to Russia's full-scale military aggression against Ukraine, the role of the non-profit sector in…
11 min read
Fiscal Registrars for Individual Entrepreneurs in 2022: Installation Requirements, Stipulated Penalties, and Appeal Procedures
Key Information about RRO for FOP in 2022: Fines and Their Appeal From January 1, 2022, in accordance with the requirements of the Tax Code of Ukraine,…
5 min read
A Step-by-Step Guide to Documenting Maternity Leave and Return to Work in 2024
In accounting practice, the issues of documenting maternity leave and calculating maternity benefits are always relevant. We explain the step-by-step…
6 min read
Maternity Leave 2024: What Women Need to Know
The period of pregnancy, childbirth, and childcare is important for every woman. From the beginning of pregnancy or closer to childbirth, women start thinking…
8 min read
Electronic Sick Leave: How Does the System Operate Post-October 1, 2021?
Two months have passed since the full launch of e-sick leave certificates. Let's find out now if everything is working in practice and what changes have…
6 min read
How to Correctly Draft an Advertising Services Contract with a Blogger
What key points should be included in an advertising services agreement with a blogger 49% of internet users claim they are more likely to buy brands they see…
5 min read
What Should Food Establishments Do When Customers Refuse to Present COVID-19 Documentation?
Why additional restrictions were introduced in Kyiv The decision to classify the city of Kyiv as a "red" zone was adopted by the State Commission for Emergency…
8 min read
Stricter Quarantine Measures in Kyiv: Red Zone Restrictions Effective November 1, 2021
What are the "red" zone restrictions in Kyiv from November 1, 2021 From November 1, 2021, at 00:00, a "red" level of epidemic danger for the spread of COVID-19…
7 min read
How to Outsource Payroll
Key aspects of payroll outsourcing Timely and correctly paid salaries are one of the main factors that can motivate your employees to work productively.…
8 min read
Individual Entrepreneurship for IT Professionals: A Comprehensive Guide to Foreign Economic Activity and Foreign Currency Banking
Foreign Economic Activity for FOP Group 3: What You Need to Know As of 2021, Group 3 is actively used for IT FOPs, less often Group 2. Being in Group 3, an IT…
4 min read
Additional Parental Leave: Who is Eligible?
Leave is a great opportunity to relax and gain strength for new work ideas. In addition to the annual basic leaves we are accustomed to, there is a wide…
7 min read
IT Individual Entrepreneurs: Selecting Activity Codes and Tax Compliance
What are the peculiarities of accounting for FOPs in IT IT business today is the most modern and innovative in Ukraine. When starting this type of business,…
5 min read
How to Properly Submit Ultimate Beneficial Owner Information
New Obligation for Legal Entities: Provision of Information on Ultimate Beneficial Owners and Disclosure of Ownership Structure Paragraph 4 of the Transitional…
10 min read
How to set up IT Outsourcing to Ukraine
The IT sphere has become one of the most promising in Ukraine in the last decade. Primarily, it concerns export-oriented outsourcing segment. Many Ukrainian…
7 min read
How to Properly Calculate Sick Pay in 2021
The formula is simple: Sick Pay = Average Daily Wage x Number of Calendar Days of Illness x Percentage of Sick Pay But to arrive at this formula, so much needs…
7 min read
Sick Pay 2021: The Essentials
Currently, as Ukraine and the world are being hit by new waves of coronavirus, the topic of calculating and paying sick leave benefits is highly relevant. The…
6 min read
Electronic Employment Records 2021: What They Are and How They Work
Law on Electronic Employment Record Books dated March 10, 2021 The introduction of electronic employment record books is another step towards the…
6 min read
How to Transition to Electronic Document Management
Should a Company Switch to Electronic Document Management? We are all accustomed to paper-based document management: it's clear and convenient. Why invest in…
11 min read
How to Properly Terminate an Employee: Employer-Initiated
What to consider when dismissing an employee If, for one reason or another, you need to terminate an employment contract with an employee, i.e., dismiss an…
5 min read
How to File Your 2021 Income Tax Return and Claim a Tax Deduction
Don't know how to properly fill out an income declaration? We offer services for filling out and submitting the annual income and property declaration for…
7 min read
How to Properly Reimburse Business Travel Expenses in 2021
What you need to know to correctly pay an employee's working days when they were on a business trip What constitutes a business trip and what documents are…
6 min read
Sole Proprietor's Personal and Business Accounts: Proper Usage
What types of bank accounts exist According to NBU Instruction No. 492 , banks have the right to open current, deposit (savings) accounts, and escrow accounts…
7 min read
How Sole Proprietors Can Choose the Right Bank for a Business Account
How an Individual Entrepreneur can open a current account, and what to pay attention to when choosing a bank Is an Individual Entrepreneur obliged to open a…
7 min read
Kyiv's New Lockdown: Restrictions for Restaurants and Retailers Effective March 20, 2021
April 14, 2021 , the Kyiv City Emergency Commission adopted Protocol No. 34, which states the decision to extend quarantine restrictions in the capital until…
6 min read
9 Rules for Accountants in IT Companies
Guide for Accountants in IT How to distinguish an outstanding accountant from a boring bore? It's very simple: an outstanding accountant helps achieve the…
7 min read
Executing a Used Car Sale and Purchase Agreement and Registering the Vehicle to the New Owner
The practice of buying a used car is very common in Ukraine. Many who wish to buy or sell a used car have questions regarding the procedure for concluding a…
5 min read
How to open a bank account in Ukraine
Opening a bank account is one of the most common procedures in the sphere of banking and finance in Ukraine. The service of opening a bank account in Ukraine…
3 min read
How to Claim Your Tax Deduction
The declaration of income by individuals can be carried out not only to fulfill the obligation to pay tax to the budget, but also to enable the refund of…
5 min read
Avoiding Tax Issues for LLCs Contracting with Group 2 Simplified Tax Sole Proprietors
Prostir Accounting Services Company provides accounting services for Ukrainian and international companies, representative offices, non-profit organizations…
6 min read
KVED Explained: Selecting Economic Activity Codes for Sole Proprietors
Every entrepreneur faces the question of choosing NACE codes during registration. Let's figure out together what this abbreviation means and why it's important…
6 min read
New LLC Law: Articles of Association Requirements and the Model vs. Custom Choice
What changes are provided by the new law regarding issues related to the LLC charter The Law of Ukraine “On Limited and Additional Liability Companies” No.…
1 min read
Accounting for representative offices of foreign pharmaceutical companies
Foreign pharmaceutical companies perform their activity on the territory of Ukraine in different ways. One of the popular ones is organization of…
1 min read
Accounting for private educational organizations
Market of private educational services is one of the most dynamically developing in Ukraine. Every year more and more private educational organizations launch,…
1 min read
Accounting for medical organizations
During many years our company co-operates with medical organizations performing under the projects complex accounting, preparation of financial and tax…
1 min read
Accounting for IT-companies
Implementation of such technologies as artificial intelligence, deep learning, chat bot, neural networks, blockchain and cryptocurrency changes the quality of…
1 min read
Accounting for Digital agencies
In the modern business environment it is hard to imagine a company not being represented in the Internet. In order to attract as many as possible visitors to…
1 min read
Tax Legal Advice
Tax legislation in Ukraine does not answer all questions directly: in our judicial practice, situations with the same context have been often treated…
1 min read
Legal Services for Representative Offices of Non-Resident Pharmaceutical Companies
We consider the legal support of the non-resident pharmaceutical companies in Ukraine to be our priority, with our lawyers’ extensive experience in this field.…
1 min read
Legal Services for Private Educational Institutions
The demand for private education services in Ukraine is increasing, since public schools do not fully satisfy the day-by-day growing needs of pupils and their…
1 min read
Legal Services for IT Companies in Ukraine
The importance of the IT industry in Ukraine is increasing year by year: new jobs are created, the budget is filled with taxes, and the positive image of the…
1 min read
Legal services for Digital Agencies
In the 21st century, most of the products and services are bought and chosen by the buyers on the Internet, so properly organized Internet marketing promises…
4 min read
Tax audit and tax risks computation
Despite the fact that in these latter days financial accounting (bookkeeping) and tax accounting are becoming more and more close, and also in spite of their…
3 min read
Due Diligence
Sometimes a moment comes, usually after certain period of company’s existence and strengthening its market position, when the owners may take a decision to…
4 min read
The Language Law: What Businesses Need to Prepare For
Language Legislation in Ukraine: What Entrepreneurs Need to Know On January 16, 2021, Article 30 of the Law of Ukraine on the Ukrainian Language in the Sphere…
1 min read
Corporate Law Services and Business Registration
Corporate law is an integral part of the activities of any business organization. This branch of law regulates the legal status, the procedure for the…
1 min read
Employment Law Consulting
The driving force of a company is its people – employees whose goals are synchronized with the company's priorities. Therefore, competent organization of…
3 min read
New Rules on Cash Receipt by Business Entities from Banks
New rules for banks to study business entities-clients receiving cash for subsequent cash settlements Many have probably already been puzzled and concerned by…
6 min read
Key Aspects of Individual Bankruptcy in Ukraine
Personal Bankruptcy in Ukraine: Is Debt Relief Truly Possible for Ordinary Citizens? Until recently, or more precisely until 2018, only legal entities could…
4 min read
Financial Monitoring in Ukraine: New Requirements for Legal Entities
Most of us have already heard about the new financial monitoring rules effective from April 28, 2020. The adopted law somewhat changes the financial monitoring…
3 min read
GDPR: General Data Protection Regulation
Do Ukrainian companies need to comply with the EU GDPR regulation 25 травня 2018 року набув чинності Загальний регламент щодо захисту даних (Регламент ЄС…
3 min read
Tax Implications of Providing Corporate Apparel to Employees
Case Study from Accounting and Tax Practice Does an object for VAT, personal income tax (PIT), and military levy arise when employees are issued corporate…
4 min read
Automotive Company Branding
If your company has corporate vehicles, you have probably considered branding the car, i.e., placing images or inscriptions on it that would identify and…
5 min read
In-House Produced Food for Employees: Tax Implications
Audit Practice Case One of our clients approached us with the following question: Our company regularly plans to treat all its employees with food products of…
5 min read
Is an Adjustment Calculation Required on the Date of Additional Payment/Refund?
In the media, one can read explanations from SFSU employees stating that «in case of a change in the amount of compensation for the value of goods/services, an…
6 min read
Provisions of the Tax Code of Ukraine on Corporate Income Tax Returns
In this article, we will try to understand the nuances and intricacies of taxpayers applying the provisions of sub-paragraph 140.5.4 of the Tax Code of Ukraine…
4 min read
How to Claim Tax Relief for Educational Expenses
What is a 'tax deduction' According to sub-paragraph 14.1.170 of the Tax Code of Ukraine (TCU), a tax deduction for individuals who are not business entities…
3 min read
Export Tax Invoice
One of our clients approached us with the following question: Under one of our foreign economic contracts, the buyer and the consignee of goods exported by our…
4 min read
Tax treatment of fines
Last month, we discussed the specifics of applying sub-paragraph 140.5.10 of the Tax Code of Ukraine (hereinafter – TCU), and this time we will try to…
6 min read
Protection of the Ukrainian Language
On April 25, 2019, the Verkhovna Rada of Ukraine, after many discussions and amendments, adopted in its entirety draft law No. 5670-d "On Ensuring the…
4 min read
What Are the Peculiarities of Pledging Goods
A significant number of sale and purchase agreements today involve an additional obligation – the delivery of goods by the seller to the buyer. During the…
5 min read
Disposal of Assets Under Martial Law
In connection with the adoption by the Verkhovna Rada of Ukraine of the Law of Ukraine "On the Approval of the Decree of the President of Ukraine "On the…
3 min read
Public Performance of Video Content
Some owners of food industry establishments have never even heard of the obligation to provide the author with monetary (or other – by agreement) remuneration…
1 min read
Law 3220: The Impact of Quarantine in Ukraine on Business and Ukrainian Taxation
On March 17, 2020, to support taxpayers, the Verkhovna Rada adopted draft law 3220, which amends the Tax Code of Ukraine. It also introduces adjustments to…
2 min read
Difference in Tax Rate by Jurisdiction
Top earners in G7 countries pay 60% more income tax than those in BRICS countries. Top earners in G7 countries with an income level of $1.5 million pay 60%…
7 min read
Key Changes to the Law on Limited Liability Companies and Companies with Additional Liability
What are the main changes provided by the Law on LLCs and ALCs More than two years have passed since the adoption of the new Law of Ukraine "On Limited and…
4 min read
Loan vs. General or Specific Purpose Financial Assistance
If, for example, an employee is experiencing financial difficulties, or a difficult life situation, needs to cover unplanned expenses, etc., and needs to…
2 min read
Video Consultation: How to Claim a Tax Deduction for Education
In this video, you will find information on how to get a tax credit if you pay for educational services for yourself or relatives (mother, father, husband,…
4 min read
Corporate Agreement under the New LLC Law
On June 17, 2018, the Law of Ukraine "On Limited and Additional Liability Companies" dated 06.02.2018 No. 2275-VIII (hereinafter – the LLC Law) entered into…
5 min read
Tax Accounting for the Sale of Financial Investments
Today, we will try to understand a complex issue: the tax accounting of operations involving the sale by a corporate income tax payer of its own financial…
4 min read
Specifics of VAT Taxation for Re-export Transactions
Is it necessary to tax re-export operations with VAT? One of our regular clients approached us with a request to clarify the specifics of VAT taxation for…
6 min read
VAT Treatment of Services Acquired by Non-Profit Organizations
Acquisition of various services from non-residents by non-profit organizations In the process of auditing the general and/or project financial statements of…
5 min read
Paternity Leave: What You Need to Know
Based on our long-term experience, the topic of parental leave for childcare being granted to the father is raised extremely rarely in enterprises; usually,…
5 min read
New Year's Gifts: Tax Implications
Little time remains until the end of the current year. Therefore, most workforces of enterprises are already planning how and where to celebrate the New Year.…
4 min read
Certificate Confirming Non-Resident Status with an Electronic Apostille
Is it possible to submit a certificate of non-resident status confirmation with an electronic apostille Recently, more and more of our clients have encountered…
6 min read
Is the cost of improvements subject to VAT?
Is VAT charged on the transfer of improvements Zaporizhzhia tax authorities reminded us of the SFS position regarding VAT taxation of operations involving the…
6 min read
Taxpayer Application of Sub-paragraph 140.5.4 of the Tax Code of Ukraine
In the previous article , we began to delve into the nuances and intricacies of taxpayers' application of the norms of sub-paragraph 140.5.4 of the Tax Code of…
3 min read
Are Payments to Non-Resident Individuals Subject to Taxation?
How to tax payments to non-resident individuals Legal entities (both commercial enterprises and non-profit organizations) sometimes need to engage non-resident…
4 min read
Reimbursement of Foreign Passport and Visa Application Costs
Quite often, enterprises arranging business trips abroad face the issue of obtaining foreign passports for employees and visas for countries where entry…
5 min read
Director on Leave: To Work or Not to Work?
The question of whether it is possible to continue or necessary to cease performing the duties of a company director while on vacation is not clearly regulated…
4 min read
Do Non-Profit Organizations Need to Accrue Unused Vacation Leave?
Very often, we hear questions from accountants of non-profit organizations (in particular, charitable foundations, public organizations) about whether such…
4 min read
Dividend Payments
One of our clients approached us with the following question: At the beginning of the year, the participants of the LLC decided to distribute the profit of…
3 min read
Accommodation Payments for Non-Residents
Many companies, especially international ones, may engage not only citizens but also specialists from various countries around the world who are non-residents…
5 min read
Software Acquisition and Hosting Lease
And we continue to answer our clients' questions , this time the question was as follows: Our enterprise acquired from a resident of Latvia the rights to use…
6 min read
Sale of Representative Office Assets
As of today, there are two types of representative offices that non-residents can open in Ukraine: representative offices that conduct business activities, are…
4 min read
24/7 Banking Operations
The National Bank has been considering the possibility of switching the Electronic Payment System (EPS) to 24/7 operation for several years, but recent events…
5 min read
Doubtful Accounts Receivable
We continue to address our clients' questions. So, the question: We want to write off to expenses a doubtful receivable from a private entrepreneur (FOP) for…
4 min read
Criteria for Classification of Accounts Receivable
In this article, we will try to understand the criteria for classifying accounts receivable for goods (works, services) into current and non-current according…
5 min read
Promotional Product Giveaways: Taxable or Not?
Continuing to answer the questions posed to us during audits, we would like to raise the following topic : Client's question: Does an object for accrual of…
3 min read
Foreign Exchange Losses as Expenses
Recently, there has been increasing news in the media that employees of the State Fiscal Service of Ukraine, during tax audits, do not recognize negative…
3 min read
Expense Report in Foreign Currency: Accounting Nuances
In our audit practice, we often encounter the need to verify the correctness of reporting by accountable persons for funds received under accountability…
6 min read
Revaluation of Property, Plant, and Equipment
When accounting for non-current assets, enterprises may encounter a situation where a fixed asset is on the balance sheet, and its initial cost equals the…
5 min read
Advertising Campaign Costs
Today, social networks are not only platforms for communication but also a very effective means of promoting any type of product or service. Advertising on…
3 min read
Debt Set-off: Tax Implications
Quite often, companies face certain circumstances that lead to the impossibility of fulfilling contractual terms. Due to non-compliance with contract…
5 min read
Non-Resident Loans: Repatriation Tax Payment
Cooperation with non-residents almost always entails tax consequences for the enterprise. In this article, we will consider obtaining a loan from a foreign…
5 min read
Major Transactions: Key Issues
Perhaps the most significant stir among all innovations of the Law of Ukraine "On Limited and Additional Liability Companies" dated 06.02.2018 No. 2275-VIII…
5 min read
New Requirements and Director Liability Under the New LLC Law
On June 17, 2018, the Law of Ukraine "On Limited and Additional Liability Companies" No. 2275-VIII dated February 06, 2018, came into force, introducing…
4 min read
Netting in Foreign Trade: Is it Permissible?
Recently, the National Bank announced good news. By Resolution No. 78 dated 18.06.2019, the National Bank excluded Section III from the Regulation on…
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