In order to align national bylaws with the effective provisions prescribed in the current Tax Code of Ukraine (hereinafter – "TCU"), the Ministry of Finance of Ukraine has adopted Decree #399 "On Amendments to the Decree of the Ministry of Finance of Ukraine #344 as of 10.03.2016" as of 30.03.2017 (hereinafter – "Decree") which came into force on 16.05.2017.
The key changes are listed below.
1. Change of the official name of an audit The name of the TP audit has been changed to better reflect its purpose.
2. The issue on tax audits of controlled transactions performed in 2013 and 2014 reporting periods has been settled Tax audits on accrued and paid taxes with regard to controlled transactions carried out in 2013 and 2014 reporting periods shall be conducted according to chapter “Audits”, Art. 39 of the TCU effective before 1.01.2015, and the current Order.
3. Changes in the process of audit’s initiation Currently, not only the head of the supervising authority but also the deputy head or an authorized person of the supervising authority is entitled to carry out/prolong the audit. SFS, within 15 working days (previously – 7), shall decide on whether to authorize the audit or not. 2 International Taxation News
4. Clarification on the timing for submitting the documents According to the new version of the Order, the taxpayers under the tax audit shall submit the documents and subsequently requested additional documents within 10 and 15 working days respectively.
Besides, the time limit entitling the supervising authority to send the notification specifying the place, date and time on consideration of the objections to the act on the tax audit results has been extended from 2 to 4 working days.