Single contribution to mandatory social security fund

The social security system in Ukraine covers pensioners, workers and their dependants for work-related accidents, retirement, illness, disability benefits and death, severance pay, sickness and maternity benefits, medical care, and child and family allowances.
Single contribution to mandatory social security fund only apply if the salary is paid through the payroll of a Ukrainian enterprise or representative offices of foreign legal entities in Ukraine.
Note: Single contribution is not included into the taxation system and is regulated by the special Law "About collection and calculation of single contribution to mandatory social security fund".
Single contribution is paid to the local offices of the State Pension Fund and its rate vary from 36,76 % to 49,7% depending on so-called "class of the professional risk". This "risk class" is determined by the type of business activity of a legal entity.

Employer contributions. Ukrainian employers are liable to pay social security contributions on behalf of their Ukrainian and foreign national employees.

Tax audits. According to the legislation, the tax authorities may carry out scheduled tax audits. Business entities must be notified of the audit in written form at least ten days before the scheduled audit. Scheduled audits are supposed to be carried out no more than once a year. Normally, the period of such audit is 20 business days, although it may be extended by up to 10 days. Also, there may be performed out-of-schedule audits because of different reasons (liquidation or reorganization of business entity, tax police investigation, when taxpayer initiates an appeal process against an assessment etc.).The duration of an out-of-schedule audit cannot exceed ten business days.

Foreign tax credits. If there is a double tax treaty between Ukraine and the relevant foreign state tax residents are allowed to credit foreign taxes paid on income received abroad against their Ukrainian tax liabilities. In that case the taxpayer requires an official confirmation of payment issued by the relevant foreign tax authority concerned. The amount of foreign tax credit is limited to the amount of Ukrainian tax that would arise from the equivalent income in Ukraine.

Different Types of Taxes

Tax revenue is used mainly to finance welfare, that is to pay for public sector expenditure.

There are various types of taxes. Swedish taxes are usually classified as follows:

Дата добавления: 2015-11-14