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The document ceased to be valid since  May 12, 2015 according to Item 1 of the Order of the Ministry of Finance of Ukraine of  March 31, 2015 No. 391

It is registered

Ministry of Justice of Ukraine

February 21, 2011

No. 212/18950

ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of January 25, 2011 No. 27

About approval of the Provision of the financial accounting "Tax differences"

(as amended on 27-06-2013)

According to the paragraph third Item 46.2 of Article 46 of Chapter 2 of the Section II, paragraph two of Item 1 of subsection 4 of the Section XX of the Tax code of Ukraine and article 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" PRIKAZYVAYU:

1. Approve the Provision of the financial accounting "Tax differences" approved by Methodological council on financial accounting under the Ministry of Finance of Ukraine which is applied.

2. To management of methodology of financial accounting (Kantsurov O. O.):

2.1. Provide submission of this order in accordance with the established procedure on state registration in the Ministry of Justice of Ukraine.

2.2. In ten-day time from the date of state registration of this order in the Ministry of Justice of Ukraine to provide its promulgation on the official website of the Ministry of Finance of Ukraine on the Internet.

3. This order becomes effective from 01.01.2013.

4. To impose control over the implementation of this order on the First Deputy Minister Myarkovsky A. I.

 

Minister

F.Yaroshenko

Approved by the Order of the Ministry of Finance of Ukraine of January 25, 2011 No. 27

Provision of the financial accounting "Tax differences"

I. General provisions

1. This Provision determines the methodological principles of forming in financial accounting of information on tax differences and its disclosure in the financial reporting.

2. Regulations of this Provision are applied by the companies, the organizations and other legal entities (further - the companies) who according to the legislation are income tax payers (except banks, budgetary institutions and small business entities - legal entities who answer criteria certain Item 154.6 of Article 154 of the Section III of the Tax code of Ukraine, and apply procedure for the simplified financial accounting of the income and expenses).

3. The terms which are used in this Provision have the following value:

tax difference - the difference arising between assessment and recognition criteria of the income, expenses, assets, obligations by provisions (standards) of financial accounting and the income and expenses determined by the tax legislation;

tax profit (loss) - the amount of profit (loss) determined by the tax legislation by the taxation object for the accounting period;

permanent tax difference - the tax difference arising in the accounting period and which is not cancelled in subsequent accounting tax periods;

the permanent tax difference which is deductible - permanent tax difference which leads to reduction of tax profit (increase in tax loss) of the accounting period;

permanent tax difference, taxable, permanent tax difference which increases tax profit (reduces tax loss) the accounting period;

temporary tax difference - the tax difference arising in the accounting period and which is cancelled in subsequent accounting tax periods.

II. Identification and display of tax differences

1. In case of determination of tax profit (loss) of the accounting period according to accounting data the financial result to the taxation determined by comparison of the income of the accounting period with expenses which were performed for receipt of this income, recognized and estimated according to provisions (standards) of financial accounting, is adjusted on the amount of permanent tax differences and part of the amount of temporary tax differences which belongs to the accounting period.

2. Permanent tax differences on economic activities of the accounting period are considered in full in case of determination of tax profit (loss) of the accounting period according to accounting data and not considered in case of determination of tax profit (loss) in future periods.

3. Temporary tax difference on economic activities of the accounting period is not considered in case of determination of tax profit (loss) of the accounting period, and considered in case of determination of tax profit (loss) in future periods.

4. The temporary tax differences arising on the economic activities connected with fixed assets and intangible assets (revaluation, depreciation, value addition of fixed assets, on the amount of reconstruction and upgrade and so forth on approaches and methods, different from requirements of the tax legislation), are considered in case of determination of tax profit (loss) in proportion to the added amount depreciation on objects which book value is created without requirements of the tax legislation and which are connected with these temporary tax differences.

5. The temporary tax differences arising on the economic activities connected with stock acquisition and/or production of finished goods are considered in case of determination of tax profit (loss) in the period in which the corresponding inventories and/or finished goods in case of which production such inventories were used are realized.

6. The temporary tax differences arising on other economic activities are considered in case of determination of tax profit (loss) when the asset or liability with which such tax differences are connected is implemented, settled and so forth.

7. In case of systematization of information which contains in the source documents accepted to accounting in registers synthetic and analytics the analysis of economic activity on availability of tax differences is surely carried out.

8. Tax differences which are considered in case of determination of tax profit (loss) for the accounting period for the purpose of financial accounting are divided on:

tax differences of rather net income from sales of products (goods, works, services);

tax differences concerning other operating incomes;

tax differences concerning other income;

tax differences concerning cost of sales (goods, works, services);

tax differences concerning other operating expenses;

tax differences concerning other expenses;

the paragraph of the eighth of Item 8  of the Section II is excluded according to the Order of the Ministry of Finance of Ukraine of 27.06.2013 No. 627

the paragraph of the eighth of Item 8  of the Section II is excluded according to the Order of the Ministry of Finance of Ukraine of 27.06.2013 No. 627

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