FOP REPORTING SINCE 2021. HEADACHE OR SIMPLIFICATION ?!

From January 1, 2021, individuals 'single' - non-payers of VAT will keep records of activities in any form. But they have to keep another three years of income books, which they will no longer use. We wrote about it here.

In the information letter №16 the tax authorities gave a separate section to the issue of accounting for the income of sole proprietors. Here are five aspects from the tax authorities:

Act №786 effectively abolished the requirement for single tax payers to register the Book with the tax authorities. Taxpayers do not need to take any action to cancel the registration of already registered books from January 1, 2021 (no applications or notifications are required).

When keeping records in any form, single taxpayers have the right to use any method of accounting for income for the period (these can be entries in any arbitrary register - paper notebooks, journals, or spreadsheets in Excel). In particular, taxpayers may continue to keep the Income Accounting Book (for single taxpayers of the first, second and third groups who are not value added tax payers) and the Income and Expense Accounting Book (for single taxpayers of the third group who are taxpayers). value added) according to the forms approved by the order of the Ministry of Finance dated 19.06.2015 №579. The Code does not require the taxpayer to notify the supervisory authorities of the selected type of register. However, the tax authorities have the right to request this information in the manner prescribed by the Code to verify compliance with the requirements of the Code of the Code on the maximum amount of income for the relevant period. Therefore, such records must contain information on at least monthly turnover, they are a source of information for the taxpayer to compile reports on the single tax.

Amendments introduced by Law №786 on the form of accounting for income by self-employed persons do not eliminate the obligation for all taxpayers (including such entities) to comply with the requirements of para. 44.1 and 44.3 of the TCU, in particular, on the accounting of income, expenses and other indicators related to the definition of objects of taxation and / or tax liabilities, on the basis of primary documents (documents for purchased goods) and their proper storage. Therefore, the information on monthly turnover, which the self-employed person will enter in the arbitrary register from January 1, 2021, should correspond to the content of primary documents for the relevant period. For taxpayers who are value added tax payers, all the requirements of the Code on Value Added Tax Accounting continue to apply.

Due to the changes introduced by Law №786, from January 1, 2021 the grounds for applying to individuals - entrepreneurs on the simplified system of taxation of administrative fines for improper accounting of income and expenses, for which the laws of Ukraine establish a mandatory form of accounting, respectively to Art. 164-1 КУпАП.

The possibility of keeping records of income and expenses in electronic form through the Electronic Cabinet for individuals in the general system of taxation and individuals engaged in independent professional activities will be introduced by the State Tax Service after the Ministry of Finance of Ukraine approves standard forms of income and expenditure such taxpayers. The introduction of such a service will be announced separately.