AUB News

The Association of Ukrainian Banks promotes the introduction of new standards for electronic tax reporting

At the meeting of the Accounting and Taxation Committee of the Association of Ukrainian Banks (AUB), which took place on March 19, the issue of submission by banks to the State Tax Service (SST) of additional information in electronic form, namely the audit file SAF-T UA, was considered.

The meeting, which was held in a mixed offline and online format, with more than 30 leading specialists of Ukrainian banks, including accounting specialists, tax managers, analysts, were chosen. The head of the committee, Bohdan Lukasevych, spoke about communication with representatives of the DPS regarding innovations in electronic tax reporting for banks, which are planned to be implemented starting January 1, 2025.  According to the innovations, banks will be required to annually submit SAF-T UA, which contains data on assets, equity, liabilities, as well as information on changes in the financial and economic condition.  "However, the SAF-T UA submission procedure does not take into account the peculiarities of accounting in banking institutions and the specifics of banking activity. The display of information about services for providing/receiving credit, deposit, loan cannot be quantified. This is a dynamic process that cannot be equated to a simple quantitative measurement," said Bohdan Lukasevych. 

During the meeting, it was decided that AUB will initiate before the State Tax Service the development of a unified methodological approach to the formation of SAF-T UA taking into account the peculiarities of banking activity.  "Ukraine is joining the EU, where all countries use this format of information submission. And the State Tax Service also does not want to lag behind world standards. The association also supports the DPS proposal to conduct a pilot project on the basis of one or more banks. This will help to test the new system and work out the mechanism of its submission," emphasized Bohdan Lukasevych.     

 

The participants of the event discussed the introduction of a pilot project on the basis of one or more banks for the development of new IT solutions necessary for the introduction of electronic tax reporting. This means that banks should prepare for the introduction of new software or the refinement of existing IT mechanisms.

Today, the Association of Ukrainian Banks, together with the State Tax Service, is working to make the process of electronic reporting for banks as convenient and efficient as possible.

"Implementation of new electronic standards of tax reporting is an important step for increasing the transparency and efficiency of the financial system of Ukraine. Together with the banks, we strive to ensure the successful implementation of these changes and compliance with their requirements," concluded Andriy Dubas, president of AUB.

 

 

 

 

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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