Tax compromise in Nikolaev

March 21, 2014 - the Cabinet of Ministers at a roundtable in Nikolaev presented the Law of Ukraine "On Amendments to the Tax Code of Ukraine regarding features clarify tax liabilities on corporate income tax and value added tax in the case of the tax compromise".

"Tax compromise is the mode of release of financial, administrative and criminal liability of taxpayers or their officials for understating tax liabilities on corporate income tax and/or value added tax, overstating the amount of budgetary compensation and/or from a negative value of the tax value added tax and the negative value of the object of taxation for income tax for any tax periods prior to January 1, 2014..."

The full text of the Law you can find here