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Messenger Formula for calculating tax yield
By Order No. 553 dated 27.06.2012, the SFS approved Methodological recommendations regarding the preparation of a schedule for conducting planned documentary inspections of business entities.
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By Order No. 553 dated 27.06.2012, the SFS approved Methodological recommendations regarding the preparation of a schedule for conducting planned documentary inspections of business entities. The frequency of such inspections is established depending on the degree of risk related to the taxpayer’s activity. Thus, all taxpayers are divided into 3 risk groups: low – inspections according to the schedule are carried out no more often than once every 3 years, medium – no more often than once every 3 years and high – once per calendar year.
Legal entities – taxpayers that fall under the criteria defined in clause 154.6 of Article 154 of the Tax Code of Ukraine and whose VAT paid to the budget is not less than 5% of the income declared for the reporting period, as well as self-employed persons whose amount of taxes paid is not less than 5% of the income declared for the reporting period, should be included in the schedule as those subject to a planned inspection no more than once every 3 years. If such taxpayers have committed violations of Articles 45, 49, 50, 51, 57 of the Tax Code, this provision does not apply to them. The inspection schedule is divided into 3 sections:
- planned documentary inspections of legal entities (including business entities registered with the SGNI);
- planned documentary inspections of financial institutions and their representative offices of residents and non-residents;
- planned documentary inspections of individuals – entrepreneurs.
Enterprises may be assigned a higher risk level if they meet the following criteria:
- The number of employees does not correspond to the number of RROs, the declared type of activity or the purchased patents;
- Large in volume or suspicious financial transactions;
- Tax yield is less than 0.48% ;
- Receiving total taxable income in the amount of more than 10 million ;
- Participation in schemes to reduce taxation;
- Understatement of tax liabilities in relation to the tax credit in total by more than 100 thousand .
To determine the tax yield the following formula is used: T.y. = Average monthly amount of PIT / Average monthly total taxable income (gross) Average monthly amount of PIT means the amount payable for the previous calendar year preceding the preparation of the schedule or the period from the beginning of the year to the last reporting period. Average monthly total taxable income (gross) is calculated as the total income from economic activity from the beginning of the year to the last reporting period preceding the preparation of the schedule multiplied by 100%.