It should be reminded that from February 22, 2021 in the new edition of the form of the request by controlling body for carrying out counter reconciliation is stated. Here's what businesses need to know about this innovation.
Relevant changes were made by Order of the Ministry of Finance of Ukraine “On Amendments to the Request Form of the Controlling Body for Counter Reconciliations” No. 746 of December 8, 2020, which ensured bringing the request form to the requirements of Articles 73 and 39 of the Tax Code of Ukraine on obtaining during counter reconciliations information (documents), which is necessary to determine the compliance of the conditions of the controlled transactions with the arm’s length principle in the supply/purchase chain of goods (works, services, other objects of civil rights that are the subject of controlled transactions), from taxpayers who are parties to the controlled transaction being audited, involved in the specified chain, or taxpayers and/or other subjects of information relations who have the information necessary to determine such compliance with the conditions of the controlled transaction.
In addition, the request form of the controlling body for a counter reconciliation includes clarifying information on the details of the business entity in terms of specifying the series of IDs of individuals, if any.
It should be reminded that counter reconciliations are not inspections, but are carried out in order to obtain tax information necessary in connection with the reconciliations.
The controlling bodies have the right to carry out counter reconciliations of these business entities in relation to the taxpayer.
During the counter reconciliation, only the issues specified in the written request of the controlling body for the counter reconciliations are clarified.
