Mandatory audit 2021. The audit report should be submitted to the tax office

Amendments made by Law №466-IX to paragraph 46.2 of the TCU stipulate that income taxpayers who according to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” have to issue of annual financial statements and annual consolidated financial statements with the audit report, have to submit financial report with the auditor's report, audited by an auditor to the State Tax Service until June 10 of the year following the accounting period.

That is, income taxpayers who, in accordance with the Law of Ukraine "On Accounting and Financial Reporting in Ukraine" are required to publish annual financial statements, must submit to the supervisory authority:

✅ Tax return for the tax (reporting) period (2020) with the statement of financial position (balance sheet) and statement of profit and loss and other comprehensive income (statement of financial performance), prepared BEFORE the audit of the financial statements by the auditor;

✅ Annual financial statements for 2020 with the auditor's report no later than June 10, 2021.

The above reports are submitted in electronic form in compliance with the requirements of the laws of Ukraine "On electronic documents and electronic document management" and "On electronic trust services" to the supervisors.

But a clear mechanism for filing by lawmakers has not yet been prescribed. Therefore, while there is time, each income taxpayer can get individual tax advice or can wait for changes in the procedure for submitting financial statements and recommendations of the State Tax Service.

The above reports are submitted in electronic form in compliance with the requirements of the laws of Ukraine "On electronic documents and electronic document management" and "On electronic trust services" to the supervisors.

But a clear mechanism for filing by lawmakers has not yet been prescribed. Therefore, while there is time, each income taxpayer can get individual tax advice or can wait for changes in the procedure for submitting financial statements and recommendations of the State Tax Service.