From September 27, 2013 the project of Ministry of incomes and charges of Ukraine about “The approval of the for and the procedure of filling of the Report on controlled transactions” has been released.

According to the article 39.4.2 of Tax Code of Ukraine, the taxpayer is obliged to present the Report on controlled transactions to the Ministry of incomes and charges of Ukraine before May the 1st of the year, followed by the reporting year. The Report is filed by the means of electronic communication, which makes this process which requires adherence to the Law on the electronic transmission of documents, and the Law on electronic signature.

In case the Report or Annexes have been filed uncompleted or contain errors – the taxpayer has the right to file the Corrected Report or Corrected Annex. In this case, the taxpayer is obliged to put a corresponding mark in one of the top fields of the form.

The report consists of four parts: the header, the main, annexes and information for the annexes. The number of annexes corresponds to the number of counterparties taxpayer’s controlled transactions.

Templates of “Report of controlled transactions,” and Annex “Information on related parties” are available for download on the website of the Ministry. Also there is presented and described in detail the supporting document ‑ Order of completion of the Report of controlled transactions.

The form of the main part of the Report of the controlled transactions is short and simple. It requires to fill the data regarding the taxpayer: his contact details, tax address, type of economic activity. Then it consists the fields concerning controlled transactions and contractors. The completed report should be signed by the director and the chief accountant of the company.

Also, the Report includes Annex #1. This Annex requires more detailed disclosure of the information concerning goods or services which are the objects of the controlled transactions. Also this Annex includes field to fill concerning pricing methods. The most fields in this Annex should be filled by the numerical codes with the purpose of shortening the Annex. The lists of numerical codes  and decryptions are included in the Order of completion of the Report of controlled transactions.

Annex “Information on related parties”, is one of the annexes to the Report of controlled transactions. It should contain information about the taxpayer and contractors who act as related parties in the controlled transactions. In the beginning of the form fields regarding the taxpayer are placed. Further fields include information on related parties and should be filled in accordance with the numerical codes of the related parties. The list of codes of the related parties and decryptions are presented in Annex #2 to the Order of completion of the Report of controlled transactions.