WHAT IS INCLUDED IN THE CONTROLLED FOREIGN COMPANIES REPORT?

In the case of exemption from taxation, the controlling person is exempted from the obligation to calculate the adjusted profit of the CIC, but is not exempted from the obligation to submit a report to the regulatory authorities.

The Report on KIK states:

• name of the controlled foreign company, its address, organizational and legal form, tax registration numbers (if available), state registration numbers;
• the size of the share held by the controlling person in the controlled foreign company;
• the structure of ownership of a share in a controlled foreign company in case of indirect ownership of such a share;
• information on the amount of income (revenue) from the sale of goods (works, services) of the controlled foreign company, profit from operating activities and profit before taxation according to financial reporting data;
• calculation of the adjusted profit of the controlled foreign company in accordance with the requirements of this article, the amount of such profit, which is included in the total taxable income of the controlling entity;
• information on the grounds for exemption from taxation of the profit of a controlled foreign company in accordance with the provisions of this article;
• amounts of dividends received by the controlled foreign company directly or indirectly through a chain of controlled legal entities from Ukrainian legal entities;
• amounts of profit of the controlled foreign company that were actually paid to the controlling person;
• a list of CFC transactions with non-residents – related persons, non-residents registered in the states (territories), which are included in the list of states (territories), States (territories) in which the corporate income tax rate (corporate tax) is 5 and more percentage points lower than in Ukraine, or which provide business entities with preferential taxation regimes, or in which the peculiarities of the calculation of the tax base actually allow business entities not to pay corporate income tax (corporate tax) or to pay it at a rate, by 5 or more percentage points lower than in Ukraine; states with which Ukraine has not concluded international agreements with provisions on information exchange; states whose competent bodies do not ensure timely and complete exchange of tax and financial information at the request of the central executive body that implements state tax policy;
• the number of employees of the controlled foreign company as of the end of the reporting (tax) year.

Information on the amount of profit of a controlled foreign company received from a permanent representative office in Ukraine.

The form of the report on controlled foreign companies, the abbreviated form of the report on controlled foreign companies and the procedure for their completion and submission are established by the central executive body, which ensures the formation and implementation of state financial policy.