The Cabinet of Ministers of Ukraine by its Resolution “On conducting a national (all-Ukrainian) normative monetary valuation of agricultural land and amending certain resolutions of the Cabinet of Ministers of Ukraine” of 07.02.18, No. 105 defines the organizational moments and the procedure for conducting a national (all-Ukrainian) normative monetary valuation of agricultural land appointment. According to the plan it should be completed in 2018.
The valuation will be carried out by the subject of valuation activity authorized by the State Service of Ukraine for Geodesy, Cartography & Cadastre, to which the budget funds will be allocated on a non-refundable basis within the respective budget allocations. Such measures are provided by the budget program “Land Reform Conducting”.
The valuation will be carried out in accordance with the Methodology of normative monetary valuation of agricultural land, approved by the Cabinet of Ministers of Ukraine from 23.03.95, No. 213.
The objects of evaluation include the agricultural land regardless of the form of ownership within the territory of the natural and agricultural areas (including mountainous natural and agricultural areas) of the Autonomous Republic of Crimea, regions, in addition to agricultural lands within the settlements, whose valuation is carried out in accordance with the Methodology of normative monetary valuation of land settlements.
The Cabinet of Ministers of Ukraine by its Resolution “On the Recalculation of Pensions to Persons Dismissed from the Military Service and Some Other Categories of Persons” of 21.02.18, No. 103 defined the procedure for recalculation and payment of pensions, which are prescribed in accordance with the Law of Ukraine “On Pension Provision of Dismissed Persons from military service, and some other persons” of 09.04.92, No. 2262-XII. In determining the new amount of pensions, it will be taken into account the size of the salary by position, military (special) rank, and salary bonus for the corresponding or similar position occupied by the person on the date of dismissal from the service.
Payment of the recalculated pensions will be carried out in stages starting from January 1, 2018, in the following sizes:
- from January 1, 2018 − 50%;
- from January 1, 2019 to December 31, 2019 − 75%;
- from January 1, 2020 − 100% of the increase amount in the pension, determined as of March 1, 2018.
For former police officers, the recalculation of pensions will be made taking into account the monetary provision for January 2016. The amount of pensions recalculated for payment for the period from January 1, 2016 to December 31, 2017 will be calculated by bodies of the Pension Fund of Ukraine as of January 1, 2018 and will be paid after allocation of funds for their financing from the state budget in the following order:
- from January 1, 2019 to December 31, 2019 − each month a separate amount of 50% of the difference between the monthly amount of the increased pension and the monthly amount of the pension received by the person for the period from January 1, 2016 to December 31, 2017;
- from January 1, 2020 − monthly, a separate amount of 100% of the difference between the monthly amount of the raised pension and the monthly amount of the pension received by the person for the period from January 1, 2016 to December 31, 2017, and to ensure the full payment of the calculated amount.
The Pension Fund bodies will recalculate pensions based on information about the components of the funded allowance, which is taken into account for the recalculation of pensions, which will be issued by the relevant ministries and departments.
The State Fiscal Service of Ukraine in its Individual Tax Advice “On the purchase of food products (tea, coffee, sugar, candy, cookies, drinking water) for the economic, administrative and sanitary needs of an enterprise” of 15.02.18, No. 630/ІПК/28-10-01-03-11 reported that the amount of value added tax (hereinafter − VAT), accrued (paid) by the VAT payer in connection with the purchase of food products (tea, coffee, sugar, sweets, biscuits, drinking water) for the economic, administrative and sanitary needs of an enterprise, are included in the tax credit in the presence of appropriate documentary evidence.
Representatives of the fiscal department did not clearly explain their position regarding the necessity of accruing “compensating” VAT. According to them, if the cost of these goods is included in the cost and, accordingly, the value of the goods/services, the supply transactions of which are subject to taxation and associated with the receipt of income (that is compensated by buyers, while increasing the basis of VAT), these goods are recognized as being intended for use/used in business activities in taxable transactions, and the additional tax liability is not accrued under para. 198.5.
There is no provision for tax adjustments for included in accounting expenses of such purchases.
The State Fiscal Service of Ukraine in its letter “On Mistakes in Determining the Sign in the Tax Invoice Number” of 26.02.18, No. 5715/7/99-99-15-03-02-17 reported: VAT payers who applied the special tax regime in the field of agriculture and forestry, as well as fisheries, the application of which was determined by Art. 209 of the Tax Code of Ukraine (hereinafter − TCU), again received the opportunity to correct the errors related to the definition of the feature of such activity in the number of the tax invoice.
These are the mistakes made in the tax invoices, the date of which is due for the period from 01.07.15 to 31.12.16. At the same time, the date of registration of tax invoices in the Unified Register of tax invoices − not later than 15.01.17.
In order to correct errors, it is used the actual form of calculation of adjustment to the tax invoice. It should be submitted from 27.02.18 till 19.03.18 inclusive.
Information on the receipt and taking into account of indicators from such messages - adjustments calculation, representatives of the fiscal department will send after the term of their adoption (after 19.03.18), regardless of the date of submitting.
The controllers give tree types of errors in the letter, namely:
- it was mistakenly indicated a sign of agricultural supply (“2”) in the tax invoice for agricultural supply;
- it was not indicated a special sign (“3”) in the tax invoice, drawn up for deliveries in accordance with para. 209.18 of the TCU;
- it was mistakenly recorded a sign of special activity (“2” or “3”) in the tax invoice, drawn up for non-free supply.
Also, representatives of the fiscal department in its letter set the rules for correcting such mistakes.
The Ministry of Finance of Ukraine explained in its letter: if the head of the company decided that the repair works of the car to be carried out to maintain the facility in a suitable state of use and obtain the original amount of future economic benefits, the cost of such repairs, depending on the direction of use car at the company, should be included in the respective expenses.
If car repair has led to increase in future economic benefits initially expected from the use of an object, then such improvements to the car will increase its original cost.
It should be recalled that the rules of accounting for “repair” costs are also prescribed in paras. 14−15 of Accounting Standards 7 “Fixed assets”.
The Ministry of Agrarian Policy and Food of Ukraine by its Order “On Approval of the Procedure for Conducting the State Veterinary and Sanitary Expertise of Food items, Feed Additives and Veterinary Medicines Containing Genetically Modified Organisms” of 16.01.18, No. 17 defined the conditions and procedure for conducting state veterinary and sanitary examination of food items, feed additives and veterinary products containing genetically modified organisms.
In order to conduct the state veterinary sanitary examination of food items, feed additives and veterinary products containing GMOs, legal or individual should submit information data or their certified copies (conclusions, scientific data, international certificates) to the State Statistics and Consumer Service. These documents are submitted in the language of the applicant country (issuance) with a translation into Ukrainian.
The State Research and Control Institute for Veterinary Medicinal Products and Feed Additives and the State Research and Control Institute for Biotechnology and Microorganisms strains conduct the examination within 90 calendar days from the date of submission of the application and registration dossier. And according to its results, the conclusion of the state veterinary and sanitary examination is issued.
The National Bank of Ukraine by its Resolution “On Approval of the Instruction on Accounting for Financial Instruments Transactions in Banks of Ukraine” of 21.02.18, No. 14 approved the Guidelines on accounting for transactions with financial instruments in Ukrainian banks.
In particular, the Guidelines provide for that a bank, after initial recognition, evaluates a debt financial asset based on a business model and the characteristics of the cash flows provided for by the agreement, under:
1) depreciated production cost;
2) fair value, with the recognition of revaluation in other comprehensive income;
3) fair value, with the recognition of revaluation though profit or loss.
The bank should determine the business model not for each asset, but at the level of the group of financial assets that it manages together to achieve a particular business purpose.
After initial recognition, the bank valuates and reflects in its accounting all financial liabilities at depreciated production cost, with the exception of:
1) financial liabilities accounted at fair value with the recognition of revaluation though profit or loss;
2) financial liabilities that arise if the transfer of a financial asset does not comply with the terms of termination of recognition or the principle of continuation of participation is applied;
3) contracts of financial guarantee, aval, pledge;
4) loan commitments at a rate lower than the market;
5) conditional compensation recognized by the buyer in the business combination to which IFRS 3 “Business Combinations” is applied. Such conditional compensation is subsequently measured at fair value with the recognition of revaluation through profit or loss.
Also, the National Bank has obliged all banks by 30.03.18 to independently develop and approve the following methods:
1) testing of cash flows for financial assets;
2) definition of business models of management of financial assets;
3) valuations of expected loan losses;
4) determination of the fair value of financial instruments in accordance with IFRS 13 “Fair value”.
It should be added that the Guidelines will become a good benchmark for ordinary companies that already report or are only going to report on IFRS.
The Ministry of Social Policy of Ukraine by its Order “On Approval of the Methodology for the Development of Professional Standards” of 22.01.18, No. 74 approved the Methodology, on the basis of which employers would be able to independently develop professional standards for their employees.
In essence, professional standards are a list of requirements for the competence of employees, on the basis of which the professional qualification is formed.
In general, a professorial standard for a particular profession should decode:
- the main purpose of the profession;
- the name of the type of economic activity (code according to Classifier of Economic Activity DK 009:2010);
- the name of the profession (name and code according to KP DK 003: 2010);
- professional qualifications of the worker;
- description of labor functions, etc.
Sample of execution and content of professional standard can be found in Annex 5 to the Methodology for the Development of Professional Standards.
