Business peciliarities in Ukraine and Bealrus
CIT is levied on the gross worldwide income of tax residents of Ukraine and on Ukraine-
sourced income of non-residents of Ukraine. The taxable base for CIT is calculated as an
adjusted gross worldwide income less deductible expenses, which account for tax
depreciation allowances. The gross worldwide income includes any income from the sale of
goods/works/ services, capital gains, foreign exchange gains, free-of-charge transfers and
other taxable receipts in cash, in kind, or in form of intangibles accrued within the reporting
period.
Ukraine uses an accrual method for tax accounting. Income is realized in the tax period when
the transfer of ownership title to goods/services/works occurred, while deductible expenses
(forming the cost of production) can be recognized on the date when the relevant
goods/services/works were supplied.
Source: KPMG. Your Business in Ukraine 2012
Income exempt from CIT
The following types of income are not included in the taxable profit:
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