Ministry of Finance of Ukraine issued the integrated tax consultation on application of the provisions of subparagraph 14.1.159 of paragraph 14.1 of Article 14 and paragraph 140.2 of Article 140 of the Tax Code of Ukraine.
This tax consultation eliminates the ambiguity in the treatment of financial institutions and companies engaged in leasing activities for applying exemptions:
- regarding the criterion of connected legal entities recognition;
- regarding the application of rules for adjusting the financial result before taxation.
We would like to thank the Ministry of Finance, all the members of the Expert Council on Development of Integrated Tax Consultations and AmCham member companies’ experts for their contribution to the preparation of this clarification. As many more issues require clarification, we will continue working in order to eliminate the ambiguous interpretation of certain provisions of tax legislation.