The Main Directorate of the State Tax Service in Lviv Region announces the following.
If an enterprise whose main activity is the production of agricultural products opts for an annual tax (reporting) period for corporation tax, which begins on 1 July of the previous reporting year and ends on 30 June of the current reporting year, then such a taxpayer shall submit a Corporation Tax Return (hereinafter – the Tax Return) for such a tax (reporting) period within 60 calendar days following the last calendar day of the reporting (tax) year.
The deadline for submitting the Tax Return by an agricultural producer – a corporate income tax payer – for the ‘special’ annual reporting period from 1 July 2022 to 30 June 2023 is 29 August 2023, and the deadline for payment of the tax liability under such a Tax Return is up to and including 8 September 2023.
It should be noted that a special mark indicating that such a return is being submitted by a producer of agricultural products is to be entered in line 10 of the header section of the tax return form.
If, however, the agricultural producer does not opt for a ‘special’ annual tax (reporting) period for income tax, which begins on 1 July of the previous reporting year and ends on 30 June of the current reporting year, then such a taxpayer shall submit Tax Returns in the standard manner within the time limits specified in paragraph 49.Article 49(18) of the Tax Code of Ukraine.
We remind you that in accordance with paragraph 46.2 of Article 46 of the Tax Code of Ukraine (TCU), a profit tax payer (except for profit tax payers who, in accordance with the Law of Ukraine “On Accounting and Financial Reporting in Ukraine”, are required to publish annual financial statements and annual consolidated financial statements together with an auditor’s report) shall submit, together with the relevant tax return, quarterly or annual financial statements in the manner prescribed for the submission of tax returns, taking into account the requirements of Article 137 of the Tax Code of Ukraine.
Income tax payers who, in accordance with the Law of Ukraine “On Accounting and Financial Reporting in Ukraine”, are required to publish annual financial statements and annual consolidated financial statements together with an auditor’s report, shall submit, together with the tax return for the relevant tax (reporting) period, the following reports: on financial position (balance sheet); on profit or loss and other comprehensive income (statement of financial performance), prepared prior to the audit of the financial statements by an auditor.
The statement of financial position (balance sheet) and the statement of profit or loss and other comprehensive income (statement of financial performance) shall be submitted by taxpayers in accordance with this paragraph in the form prescribed by the Law of Ukraine ‘On Accounting and Financial Reporting in Ukraine’, in the manner prescribed for the submission of the Tax Return, taking into account the requirements of Article 137 of the Tax Code of Ukraine.
The above-mentioned reports, submitted in accordance with the first and second sub-paragraphs of paragraph 46.2 of Article 46 of the Tax Code of Ukraine, constitute an annex, in particular, to the Corporate Income Tax Return and form an integral part thereof. Corporate income tax payers – producers of agricultural products who have opted for an annual tax (reporting) period in accordance with sub-paragraph 137.4.1 of paragraph 137.4 of Article 137 of the Tax Code of Ukraine – shall prepare and submit, together with the relevant Tax Return, financial statements for the first half of the previous reporting year, for the previous reporting year and for the first half of the current reporting year.
Source: Main Department of the State Tax Service in Lviv Region
