As we know the taxpayers, tax agents, as well as other entities in cases provided by the Tax Code of Ukraine (hereinafter – the Tax Code), are financially responsible for tax violations. About penalties for non-submission, late submission of tax returns and violation of the terms of payment of the agreed amounts of monetary obligations – below.
In accordance with item 120.1 Art. 120 of the Tax Code in case of non-submission or late submission by the taxpayer or other persons obliged to accrue and pay taxes and fees, payments, control over the payment of which is entrusted to the controlling bodies, of tax returns (calculations), as well as other reports, the obligation to submit which to the controlling bodies is provided by the Tax Code, entail the imposition of a fine of UAH 340 for each such non-submission or late submission.
The same actions committed by a taxpayer who has been fined for such a violation during the year will be punishable by a fine of UAH 1,020 for each such non-submission or late submission.
In addition to the fine for late submission of tax returns, the taxpayer will also be forced to pay a fine in case of late payment of the agreed amount of the monetary obligation in the following amounts (item 124.1 Art. 124 of the Tax Code):
- in case of delay up to 30 calendar days inclusive, following the last day of the deadline for payment of the monetary obligation – in the amount of 5% of the paid amount of tax debt;
- in case of delay of more than 30 calendar days following the last day of the term of payment of the amount of the monetary obligation – in the amount of 10% of the paid amount of the tax debt.
If the act of the taxpayer to delay the payment of the agreed amount of the monetary obligation are committed intentionally, they entail a fine of 25% of the amount of unpaid (late paid) monetary obligation (item 124.2 Art. 124 of the Tax Code).
The acts committed intentionally repeatedly within 1095 calendar days or which led to the delay of payment of a monetary obligation for a period of more than 90 calendar days, entail the imposition of a fine of 50% of the amount of unpaid (late paid) monetary obligation (item 124.3 Art. 124 of the Tax Code).
Upon expiration of the terms of repayment of the agreed monetary obligation, a penalty is accrued on the amount of the tax debt (item 129.1 Art. 129 of the Tax Code):
- if such accrual was made by the controlling body, the penalty is accrued from the first working day following the last day of the deadline for payment of the monetary obligation specified in the tax notice-decision;
- if the relevant obligation was accrued by the payer independently, the accrual of interest begins after the expiration of 90 days following the last day of the deadline for payment of the monetary obligation specified by the Tax Code.
