Calculation of taxable income for corporate income tax in Ukraine: consideration of VAT amounts

• The Main Department of the State Tax Service in the Odessa region provides information on how the object of taxation for corporate income tax is determined.
• The object of taxation is calculated based on the accounting and financial reporting data on income, expenses, and financial results before taxation.
• The object of taxation for corporate income tax includes income from sources in Ukraine and abroad, adjusted based on the financial results before taxation determined in accordance with national accounting standards or international financial reporting standards.
• There are no adjustments for value-added tax in the calculation of the financial results before taxation.
• The regulation of accounting methodology and financial reporting is carried out by the central executive body responsible for accounting and audit, 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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