The Main Department of the State Tax Service in Kyiv informs that during the actual inspection, the representatives of the controlling body have the right to demand from the taxpayer to conduct an inventory and remove the balances of inventory, cash. Below we provide more information on why business entities that carry out settlement transactions are required to keep inventory records.
The business entity is obliged to provide invoices, consignment notes for the goods under sale for the inspection, as well as to recalculate cash at the place of settlement to establish the volume of sales at the time of the inspection.
It should be recalled that in accordance with paragraph 12 of Art. 3 of Law of Ukraine “On the use of payment transactions recorders in the field of trade, catering and services” No. 265/95-ВР of July 6, 1995, the business entities that carry out settlement transactions in cash or non-cash form (using electronic means of payment, payment checks, tokens, etc.), in the case of sale of goods (services) in the field of trade, catering and services, as well as during the conduct of transactions for the acceptance of cash for its further transfer, are obliged to keep stock records in the manner prescribed by law and sell only those goods (services) that are reflected in such records.
At the same time, the business entity is obliged during the inspection to provide the controlling bodies with documents in hard or soft copy, confirming the accounting and origin of goods that at the time of inspection are located at the point of sale (business entity).
Such requirements do not apply to sole proprietors who are single tax payers and are not registered as value added tax payers (except for those engaged in the sale of technically complex household goods subject to warranty repair, as well as medicines and medical devices, jewelry and household products made of precious metals, precious stones, precious stones of organogenic formation and semi – precious stones).
It should be noted that the requirements of the Regulation on inventory of assets and liabilities, approved by Order of the Ministry of Finance of Ukraine No. 879 of September 2, 2014, in accordance with paragraph 2 of this Regulation apply to legal entities of all forms of ownership and do not apply to sole proprietors.
