Failure to submit a report on CFC by the controlling person entails the imposition of a fine in the amount of 100 times the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year.<\/p>\n
100*2589 = 258,900 UAH.<\/strong><\/p>\n Payment of such financial sanctions (fines) does not release the taxpayer from the obligation to submit a report on controlled foreign companies and supporting documents.<\/u><\/p>\n Failure to submit a CFC report within 30 calendar days following the last day of the deadline for payment of financial sanctions (fines) entails the imposition of a fine in the amount of five times the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year, for each calendar day of failure to submit a report on controlled foreign companies, but no more than 300 amounts of the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year.<\/p>\n 300*2589 = 776,700 UAH.<\/strong><\/p>\n Late submission by the controlling person of the CFC report entails the imposition of a fine in the amount of one amount of the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year, for each calendar day of non-submission, but no more than 50 amounts of the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year.<\/p>\n Failure by the controlling person to disclose information on existing controlled foreign companies in the report on controlled foreign companies and\/or failure to disclose information on existing CFCs entails the imposition of a fine in the amount of 3 percent of the amount of income of the controlled foreign companies or 25 percent of the adjusted profit of the controlled foreign company for the relevant year, not reflected in the report on controlled foreign companies, depending on which of these values is greater, but not more than 1,000 of the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year, for each fact of non-representation of a controlled foreign company and\/ or for all unrepresented amounts.<\/p>\n 1000*2589 = 2,580,900 UAH.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Failure to submit a report on CFC by the controlling person entails the imposition of a fine in the amount of 100 times the subsistence minimum for an able-bodied person, established by law on January 1 of the tax (reporting) year.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136],"tags":[],"class_list":["post-3744","post","type-post","status-publish","format-standard","hentry","category-press-center"],"yoast_head":"\n