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Ukraine Clarifies the Carryforward of Losses Under Simplified Tax System

|Approved Changes|Ukraine
Ukraine

The Ukraine State Fiscal Service recently published an individual tax consultation that clarifies the carryforward of losses under the simplified tax system (single tax). The letter notes that under the Tax Code of Ukraine, the financial result before tax may be reduced by losses carried forward from previous years for corporate income tax purposes, subject to certain conditions. However, taxpayers under the simplified tax system are not considered corporate income tax payers, and therefore, …

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