LAW OF UKRAINE

of December 25, 2014 No. 63-VIII

About introduction of amendments to the Tax Code of Ukraine concerning features of refining of the tax liabilities on the income tax of the companies and the value added tax in case of application of tax compromise

The Verkhovna Rada of Ukraine decides:

I. Chapter XX "Transitional provisions" of the Tax code of Ukraine (2011, Art. No. No. 13-17, 112) to add sheets of the Verkhovna Rada of Ukraine with division 9-2 of the following content:

"Division 9-2. Features of refining of the tax liabilities on the income tax of the companies and the value added tax in case of application of tax compromise

1. The tax compromise is the mode of release from legal responsibility of taxpayers and/or their official (office) persons for understating of the tax liabilities on the income tax of the companies and/or the value added tax for any tax periods till April 1, 2014 taking into account prescriptive limits, stipulated in Clause 102 of this Code. The taxpayer who decided to use the procedure of tax compromise during action of tax compromise for such tax periods has the right to give the corresponding specifying calculations of the tax liabilities for the income tax of the companies and/or the value added tax in which determines the amount of overestimate of expenses which are considered in case of determination of the taxation object on profit of the companies and/or the amount of overestimate of the tax credit on the value added tax.

The specifying calculations of the tax liabilities for the income tax of the companies and/or the value added tax move in the form established by the central executive body providing forming of the state financial policy. Together with the specifying calculation the list (description) of economic activities on which refining of indicators of the tax declaration is performed moves.

Regulations of article 50 of this Code do not extend to cases of representation of the specifying calculations of the tax liabilities in connection therewith division.

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