The President of Ukraine signed the Law of Ukraine “On Amendments to Section II “Final and Transitional Provisions” of the Law of Ukraine “On Amendments to Certain Laws of Ukraine on Reduction of Deficit of Ferrous Metals Scrap in the Internal Market” of 17.05.18, No. 2434-VIII. The mentioned Law extended the export duty on waste and scrap of ferrous metals for a term of 3 years.
Also, the export duty rates on such goods increased from 30 euros/t to 42 euros/t. The above changes are caused by an increase in the cost of waste and scrap of ferrous metals in foreign markets. Therefore, tariff regulation needed a correction to restore the effect of customs duties.
The Cabinet of Ministers of Ukraine by its Resolution “On Approval of the Procedure for Transferring Utility Services to the Operator of External Engineering Networks paid by utility users and owners (co-owners) of premises equipped with individual heating and/or hot water supply systems, contributions for installing nodes of revenue metering” of 13.06.18, No. 477 approved the Procedure for transferring funds by the executor of the utility services to the network operator for the installation of meters. This Procedure is a clear statement of the actions of the executor (condominium associations, housing and public services, etc.). For example, it is determined that:
- the executor counts the contributions of utility users to a separate account and transfers the contributions to a separate account of the operator of the external engineering networks;
- the executor keeps a record of the paid contributions received on own account from consumers separately for each building;
- contributions paid by the user to the operator of the external engineering networks should be transferred to the operator no later than the 5th day of the month following the settlement quarter, if the agreement between the parties does not set another term;
- the amount of funds transferred by the executor to the operator of external engineering networks is 100% of the total amount of contributions received from the account of the executor from the consumers and owners (co-owners) of the premises.
The Procedure also approved the Model Contracts for the Transfer of Contributions.
The Cabinet of Ministers of Ukraine adopted a strategy by which the system of accounting and financial reporting for the state sector will be fully modernized by 2025. This is reported on the official website of the Ministry of Finance of Ukraine.
Government officials plans provided:
- creation and implementation of an information and analytical system for accounting and financial reporting by enterprises of the state sector;
- systematization of accounting processes;
- improvement of the formation of organizational structure of accounting services;
- improvement of the system of training and retraining of profile specialists.
At present, the strategy for improving the accounting and financial reporting is partly implemented. In particular, the Ministry of Finance has already managed to approve for enterprises of the state sector: an account plan, national accounting standards, new forms of financial reporting and the order of their filling, etc.
The State Fiscal Service of Ukraine in its Individual Tax Advice “On the Procedure of VAT Taxation and the Income Tax Transactions with the Receipt of Funds by the Company in the Form of Security (Guarantee) Payment” of 01.06.18, No. 2412/6/99-99-15-03-02-15/ІПК explained the tax consequences in a situation where the distributor receives a guarantee payment from the dealer as a pledge to fulfill the terms of the agreement.
Thus, if the distributor receives such a payment only to ensure that the dealer fulfills his/her obligations, after which the money will be returned to him/her, there will be no VAT obligations on the distributor.
However, if after some time this guarantee payment is credited as payment for goods/services, on this date the distributor will deduct tax liabilities with VAT. A dealer, in turn, forms a tax credit provided that the tax invoice is registered in the URTI.
As for the tax-profit consequences, then the distributor focuses exclusively on accounting. After all, the TCU does not contain any corrective differences regarding the receipt of guaranty payments.
The State Fiscal Service of Ukraine in its Individual Tax Advice “On the Application of Penalties in the Case of Untimely Payment to the State Budget of a Part of the Net Income” of 07.06.18, No.2527/6/99-99-15-02-02-15/ІПК reported that the tax authorities had no grounds for applying fines under Art. 123, 126 of the Tax Code of Ukraine (hereinafter - TCU) to state enterprises in case of non-payment of part of profit (income). The reason - this payment is not a tax liability. Although its declaration and payment (code 21010100) is carried out in accordance with the procedure foreseen for the company income tax, and the control over its deduction is charged to the SFSU.
Representatives of the fiscal department have already expressed such a position earlier. True, then it was only about the exclusion of penalties under Art. 126 of TCU.
The Ministry of Social Policy of Ukraine in its letter “On Taking into Account the Premium When the Calculation of Leave Allowances” of 23.04.18, No. 659/0/101-18 clarified: if the premium was accrued in the month in which the employee was on leave without salary saving (full month), then the amount of the premium and the days during which the employee was on such leave should not be taken into account when calculating the leave allowances.
The agency analyzed the situation when the employee was on leave without saving salary on the basis of para. 6 of Art. 25 of the Law of Ukraine “On Leaves” of 15.11.96, No. 504/96-ВР for a whole month (30 calendar days), and for this month the premium was accrued for him/her.
Para.6 of sec.2 of the Procedure for Calculation of the Average Salary, approved by the Resolution of the Cabinet of Ministers of Ukraine of 08.02.95, No. 100, stipulated that the time during which the employees, in accordance with the current legislation or under other valid reasons, did not work and earned or saved therefor partly, should be excluded from the accounting period. It is this norm that specialists of the department refer to, concluding that they are not included in the calculation of leave allowances accrued for the month in which the employee was on leave at his/her own expense.
If the employee was given a shorter leave or was given not from the beginning of the month, and in the month when the employee was paid premium, there are at least several working days and days off, then the said premium should be taken into account on average earnings, the agency notes.
The Deposit Guarantee Fund by its Order “On Approval of the Amendments to the Regulation on the Procedure for Compensation by the Deposit Guarantee Fund of funds held on deposit” of 02.04.18, No. 948 made amendments to the Procedure for the compensation by the Deposit Guarantee Fund (hereinafter - the Fund) of funds held on deposit. In particular, the Fund will pay a guaranteed amount of claims for compensation. They must be sent (submitted) to the Fund not later than the day of submission of documents for the entry into the Unified State Register record of liquidation of the bank as a legal entity.
It is also determined that the payment of compensation for deposits opened in the name of a person recognized as incapacitated by the court or whose civil capacity is limited is paid to the guardian (trustee).
It should be recalled that the amount of the maximum amount of compensation for deposits is UAH 200 thousand. Up to the present day the law has not obliged individuals to claim compensation for the contribution to that amount.
