LETTER OF THE STATE TAX SERVICE OF UKRAINE

of February 27, 2013 No. 1158/A/17-1215

The State Tax Service of Ukraine at the request of Committee of the Verkhovna Rada of Ukraine concerning tax and customs policy No. 04-30/10127 considered of 07.02.2013 your letter concerning maintaining by physical litsompredprinimatel of the book of accounting of the income and expenses and reports the following.

According to Art. regulations 42, of 44, 47 Economic codes of Ukraine of 16.01.2003 No. 436-IV the entrepreneurship is direct economic activity, independent, systematic on own risk, which is performed by subjects of managing (entrepreneurs) for the purpose of achievement of economic and social results and profit earning.

The taxation of income gained by the physical person - the entrepreneur from implementation of economic activity, except persons which chose simplified taxation system is regulated by article 177 of the Tax Code of Ukraine of 02.12.2010 No. 2755-VII, with changes and amendments (further - the Code).

For the purposes of the taxation taxpayers shall record the income, expenses and other indicators connected with determination of the taxation objects and/or tax liabilities based on source documents, bookkeeping registers, the financial reporting, other documents connected with calculation and tax payment and charges which conducting is stipulated by the legislation (Art. 44 of the Code).

Physical persons - entrepreneurs (except persons which chose simplified taxation system of accounting and the reporting) according to Item 177.10 of article 177 of the Code shall keep the book of accounting of the income and expenses which form and procedure for maintaining are approved by the order GNA of Ukraine of 24.12.2010 No. 1025, registered in the Ministry of Justice of Ukraine 30.12.2010 for No. 1425/18720 (further - the Procedure).

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