Today is a deadline for submitting Reports on controlled foreign companies for individuals

Press service of the State Tax Service of Ukraine, published 30 April 2025 at 10:38 Chapter: News

April 30, 2025 is a deadline for submission by individuals – controllers of Reports on controlled foreign companies for 2024.

Currently, almost 40% of taxpayers who have such obligation have submitted Reports on controlled foreign companies for 2024.

Report on controlled foreign companies is submitted by individuals – residents of Ukraine who own a share or control foreign company, together with annual property and income declaration.

Report on controlled foreign companies has to be accompanied by duly certified copies of financial reporting of controlled foreign companies for relevant period.

What to remember:

- controlled foreign companies are subject to tax control (Article 39² of the Tax Code of Ukraine (hereinafter – Code);

- Report is submitted for each controlled foreign company separately;

- if the controlling entity is unable to prepare financial reporting for controlled foreign company, such entity has to submit Report in the abbreviated form (Sub-paragraph 39².5.4 Paragraph 39².5 Article 39² of the Code);

- non-submission or untimely submission of Report leads to the application of penalties (Paragraph 120.7 Article 120 of the Code));

- criteria for determining control over controlled foreign companies (share of ownership, aggregate control) have changed from 01.01.2024);

- filling out the Report, attention should be paid to the reflection of dividends received by controlled foreign companies from Ukrainian legal entities that are subject to taxation in Ukraine.