In accordance with the Tax Code of Ukraine, each CFC owner is obliged to submit CFC reports.
CFC reports must be submitted annually. The financial statements of the foreign company must be attached to the CFC report. The entire package of documents is submitted by an individual together with a tax return on property and income. In 2024, the CFC report had to be submitted by May 1, 2024.
Please note that even if you have a foreign company that does not operate and does not conduct any activities, it is mandatory to submit a CFC report for this company as well. If you have an offshore company that does not file reports in the country of registration, does not operate, you must also submit a CFC report and prepare financial statements in accordance with international standards and submit the relevant CFC reports in Ukraine.
The CFC report is submitted for each controlled foreign company separately and exclusively in electronic form.
What is the reporting period and for which reporting period should the CFC be submitted? In many foreign countries, a company's fiscal year is a calendar year that begins on January 01 and ends on December 31.