WHAT PENALTIES AWAIT FINANCIAL INSTITUTION IN CASE OF VIOLATION OF THE TERM FOR PAYING TAXES

For violation of the deadline for the inclusion of taxes to budgets or state special funds from a non-bank provider of payment services, acquirer, issuer of electronic money, such a body, non-bank provider of payment services, issuer of electronic money shall pay fines in the amounts established by clause 124.1 of the Code of Civil Procedure.

We draw attention to the amount of fines (clause 124.1 of the Code of Criminal Procedure):

  • in case of a delay of up to 30 calendar days inclusive, following the last day of the payment period for the amount of the monetary obligation, in the amount of 5 percent of the repaid amount of the tax debt;
  • in case of a delay of more than 30 calendar days following the last day of payment of the amount of the monetary obligation, in the amount of 10 percent of the repaid amount of the tax debt.

In addition, for violation of the deadline for the inclusion of taxes in budgets or state special funds, established by the Law of Ukraine “On Payment Services”, due to the fault of a non-bank provider of payment services, acquirer, issuer of electronic money, such a body, non-bank provider of payment services, issuer of electronic money shall pay a penalty for each day of delay, including the day of payment.

The taxpayer is not charged, and the accrued interest is subject to cancellation, in particular, for the commission of an act (action or inaction) due to the fault of a non-bank payment service provider, acquirer, issuer of electronic money.