- The Main Department of the State Fiscal Service in the Odessa region has issued a statement regarding the calculation of taxable income for the corporate income tax.
- The taxable income is determined by using accounting and financial reporting data on income, expenses, and financial results before taxation.
- The object of taxation for the corporate income tax is the profit with a source of origin from Ukraine and abroad, which is determined by adjusting the financial result before taxation according to national accounting standards or international financial reporting standards.
- There are no provisions in the Tax Code of Ukraine for adjusting the financial result before taxation for the amount of value-added tax.
- The regulation of accounting methodology and financial reporting is carried out by the central executive authority responsible for accounting and auditing policies, which approves national accounting standards and other regulatory acts related to accounting and financial reporting.
Source: od.tax.gov.ua
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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