Is it possible not to file reports during martial law?
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During martial law in Ukraine, taxpayers are required to submit tax and financial statements*. However, if, for objective reasons related to military operations, a company is unable to submit reports in a timely manner, the law provides for the following features:
- Financial statements: Companies that failed to submit interim, annual or consolidated financial statements within the established deadlines during martial law are required to submit them within three months after the termination or lifting of martial law.
- Tax reporting: If it is impossible to file tax reports during martial law, taxpayers must file them within six months after the termination or lifting of martial law or within 60 days from the moment such possibility is restored.
It is important to note that the inability to fulfil the reporting obligation must be documented. Therefore, it is recommended to keep all evidence that confirms the objective reasons for the delay in submitting the reports.
*- Financial reporting is governed by accounting standards, while tax reporting is governed by tax legislation.
