The form of corporate income tax return is approved by the Order of the Ministry of Finance of Ukraine dated 20.10.15 № 897 (hereinafter – Tax return № 897). The payers of corporate income tax are required to report for 2015 with the help of this tax return.
According to subpara.2 of para.46.6 of Art.46 of the Tax Code of Ukraine (hereinafter - TCU), new forms of tax returns (settlements) come into force for preparation of reporting for the tax period following the tax period, when there was their disclosure. However, everybody is used to break this provision.
During last year it was authorized by the TCU to report on income tax before June 1, 2016. As of adoption of the Law of Ukraine “On Amendments to the Tax Code of Ukraine and some other legislative acts of Ukraine concerning ensuring of balance of budget revenues in 2016” of 24.12.2015, № 909-VIII (hereinafter - the Law № 909) this provision became a thing of the past.
01.01.2016 there was amended the tax (reporting) period for income tax, for which taxpayers were required to file the tax returns and, accordingly, to pay tax liabilities declared there. A calendar quarter and year became those reporting periods for income tax payers.
When the corporate income tax return for 2015 ought to be filed? According to the norms of TCU and explanations of tax authorities (SFS letters dated 04.01.2016 № 102/7/99-99-19-02-01-17 and 18.01.2016 № 1626/7/99-99-19-02-02-17), on the basis of the operating results for 2015 the tax return should be filed:
- within 40 calendar days following the last day of the tax reporting quarter, if a calendar quarter is the base reporting (tax) period for a taxpayer. Therefore, a tax return ought to be filed not later than Tuesday, February 9, 2016 (in accordance with subpara.49.18.2 of Art. 49 of TCU). The deadline for payment of liabilities by such payers is Friday, February 19, 2016;
- within 60 calendar days following the last calendar day of the reporting (tax) year, if a calendar year is the base reporting (tax) period. Therefore, the taxpayer should report not later than Monday, February 29, 2016. The last day for payment of liabilities specified in the tax return is Thursday, March 10, 2016 (according to para.57.1 of Art.57 of TCU).
As for quarterly taxpayers, remember that the filling of the tax return by them should be carried out by cumulative total basis from the beginning of the year. It should be reminded that tax authorities recommended to such payers to submit for the reporting for the first half-year period and three quarters, the current tax return together with the application in form of filled return in projected form (SFS letter dated 29.07.2015 № 27719/7/99-99-19-02-01-17). Thus, the data from projected tax return can be used as intermediates for the formation of annual performance.
The tax return should include all its obligatory details provided in sub-paras.48.3 and 48.4 of TCU. All lines of the tax return and its annexes should be filled. The dashes should be put down in paper version of tax return when there is no any information. If the application is not filled because of the lack of figures, it shouldn’t be submitted to the tax agency (clarifications in sub-category 102.20.02 ZІR).
It ought to be noted that the form of tax return № 897 is unified for all income tax payers regardless of the type of activity. Therefore, it should be submitted by: producers of agricultural products; enterprises of public organizations of disabled people, who received permission for profitable benefit; banks; insurers; lotteries providers and permanent representative of non-residents, which determine their profits under the general procedure. In general, the taxation peculiarities of mentioned categories of income tax payers are accounted in the tax return.
