Economics of the enterprise: settlements in cash foreign currency.
# 499) taking into account the following features:
1. If the payer simultaneously carries out export operations on cash settlements and operations on sale of goods (works, services) in the customs territory of Ukraine, which are taxed at a zero rate and at a rate of 20%, the payer has the right to receive budget reimbursement in three different terms:
30 calendar days – according to the calculation of the export refund (part of the amount of the tax credit for which settlements with suppliers are made, proportional to the share of export transactions in the total amount of taxable transactions of the reporting period); by the end of the month following the month in which the tax return for the reporting period – by calculating the share of budget refund (the share of the negative difference between tax liabilities and tax credit, reduced by the amount of export refund, proportional to the volume of sales of goods (works, services) in the customs territory of Ukraine, which are taxed at a zero rate in the total amount of taxable transactions); the balance of the negative difference between the tax liabilities and the tax credit after reducing it by the amount of the refund made in the above terms, and crediting the repayment of tax liabilities for the next three reporting periods.
The following changes must be taken into account in the tax reporting on value added tax of taxpayers who have a monthly reporting deadline and file a tax return in full, starting with the tax reporting filed in July:
taking into account that Article 8 is set out in a new wording, and for payers who have a quarterly reporting deadline, the procedure for receiving budget reimbursement for the first or two first months of the quarter is abolished: Annex 1 to the declaration is not submitted; line 22 is not filled in the value added tax return;
2.when calculating the amount of export refund lines 1 – 6 of Annex 3 are filled in the following order:
Line 1. Instead of the value of line 23B of the declaration of the reporting period, this line indicates the part of the amount of tax credit of the reporting period, paid in cash to suppliers. The value of line 1 of Annex 3 when calculating the amount of export refund may not be greater than the value of line 17 of the tax return for the reporting period.
The amount indicated in this line is confirmed by payment documents as provided by law.
Line 2. Indicate the total amount of taxable transactions of the reporting period, taking into account the taxation of goods on import (the sum of lines 1, 2A, 2B and 4 of section I of line 12D of section II and line 6 of section I, column A of the tax return of the reporting period).
Line 3. Instead of the total sales of goods (works, services) at zero rate indicates the volume of export transactions of the reporting period (line 2A of the tax return minus the substring “of which barter (barter) transactions” column A) …
Line 4. Determine the share of the volume of export transactions for which cash payments were made in the total amount of taxable transactions of the reporting period (line 3 line 2 x 100%).
Line 5. Instead of the amount of budget refund, the amount of export refund is calculated (line 1 x line 4: 100%).
If the value of this line is calculated more than the value of line 23B of the tax return of this reporting period, the value of line 23B is transferred to this line.
Line 6. This line indicates the difference between line 23B of the tax return and line 5 of Annex 3, which calculates the export refund, if the value of line 5 is less than the value of line 23B of the declaration;
When calculating the share of budget reimbursement for the sale in the customs territory of Ukraine of goods (works, services) taxed at a zero rate, and the simultaneous implementation of export operations by the payer simultaneously submitted two annexes №3 to the declaration, with :
1) in one appendix the amount of export refund is calculated and it is marked “Export refund” (this calculation is carried out first);
2) in the second appendix the amount of budgetary compensation is calculated, but taking into account the following features:
in line 1 of the calculation of the budget refund, the value of line 23B of the tax return of the reporting period is reduced by the amount of the export refund. At the same time, if the payer submits both the calculation of the export refund and the calculation of the budget refund, the following should be borne in mind: today the zero rate on the territory of Ukraine is applied to the operations provided for in paragraphs 6.2. 6 of Article 6. 11.19 and 11.26 (fourth paragraph) of Article 11 of the Law of Ukraine “On Value Added Tax” in particular: transactions specified in paragraph 6.2. 6 of Article 6 (sale to milk processing enterprises of live weight by agricultural producers of all forms of ownership and management), are applied by taxpayers who use in the activity the special mode of the taxation (item 11.21 of item 11); operations specified in paragraph 11.19 of Article 11 (sale of cars of own production of residents of Ukraine, which have an investment (including foreign) exclusively in cash, not less than 150 million US dollars), may not be used by intermediary enterprises; operations specified in paragraph 11.26 of Art. 11 (sale of products manufactured by shipbuilding enterprises at the expense of the State Budget of Ukraine) may be carried out only by enterprises, the list of which is approved by the Resolution of the Cabinet of Ministers of Ukraine of 16.06. 2000 №978 “On approval of the list of enterprises of the shipbuilding industry for which measures of the state support of the shipbuilding industry are introduced”.
That is, all these types of transactions for the sale of goods (works, services) in the customs territory of Ukraine, taxed at zero rate, are used by clearly defined categories of taxpayers under clearly defined conditions and must be under special control of the tax authorities.
Taxation of profits from export transactions
Income tax on export transactions is carried out according to the general scheme and does not have any features.
That is, gross income from export transactions arises on the date of any event that occurred earlier:
or the date of crediting funds from the buyer (customer) to the taxpayer’s bank account to pay for goods (works, services) to be sold; or the date of shipment of goods, and for works (services) * the date of the actual provision of the results of works (services) by the taxpayer.
Income received (accrued) by a taxpayer in foreign currency in connection with the sale of goods (works, services) during the reporting period is translated into UAH at the official exchange rate of the National Bank of Ukraine, effective on the date of receipt ( accrual) of such income. These incomes are not subject to transfer due to changes in the hryvnia exchange rate during the reporting period (paragraph 7.3. 1 of the Law on Profit).
Debts in foreign currency that arose during the export transaction (receivables or payables, depending on which event occurred earlier – the receipt of currency or shipment), also participates in the formation of the object of income tax. Moreover, the composition of gross income or gross expenses includes only the difference that arose due to changes in the exchange rate of the National Bank of Ukraine in the period between the following dates:
if the debt arose and was repaid in the same tax quarter – between the date of occurrence and the date of repayment (paragraph 3.2. 3 of the Procedure No. 37); if the debt arose in one and repaid in the next quarter, ѕ between the date of occurrence and the last working day of the quarter, and in the next quarter ѕ between the last working day of the previous quarter and the repayment date (paragraph 7.3 . 6 of the Law on Profit).
In the Law on Profit, a debt denominated in a foreign currency and translated into hryvnia at the official exchange rate of the National Bank of Ukraine on the date of its occurrence is called the “book value of the debt”.
Economics of the enterprise: settlements in cash foreign currency. Abstract
Cash foreign currency transactions may be conducted from the current account in foreign currency of resident legal entities at the order of the account holder.
There are the following transactions conducted with cash in foreign currency:
payment in cash for remuneration to non-resident employees working in Ukraine under a contract (agreement); payment in cash or payment documents to employees for business trips when traveling abroad, for operating costs associated with the maintenance of vehicles abroad, entertainment expenses abroad in accordance with applicable law; payment in cash for operational needs to perform duties to the captain of a vessel owned by a non-resident shipowner, under a contract (agreement, contract) for the provision of agency services, concluded in accordance with the Code of Merchant Shipping; payment in cash to individuals of funds received by law firms literacy narrative topic ideas and other resident companies from abroad on behalf of individuals in cases that are in the proceedings of these companies in accordance with their statutory activities and license for the relevant activities; payment in cash to resident individuals for the use of their works abroad (carried out by resident legal entities that have the appropriate authority in accordance with current legislation of Ukraine, at the expense of funds received from abroad); payment in cash for payment of state duty in accordance with current legislation of Ukraine.
The authorized bank may accept as payment for goods from the authorized representative of the non-resident legal entity in the bank’s cash desk (for further crediting to the distribution account in the resident’s foreign currency) cash freely convertible currency in the amount of 10,000 ( ten thousand) US dollars or equivalent. in another freely convertible currency at the official exchange rate set by the National Bank of Ukraine on the day of crediting the funds, if available: