Clarification on Ukraine Advance Tax Payments Requirements

Ukraine's Ministry of Revenue and Duties recently issued guidance on advance tax payments and conditions for exemption. Key aspects of the guidance include the following:

• Advanced tax payments must be made by the 30th of the month following the reporting month and must be equal to 1/12 of the previous tax year's corporate tax liability
• Advance tax payments are not required in the tax year in which a tax payer is incorporated
• Non-profits and corporate taxpayers whose taxable income does not exc…