The business was not included in the fines for late reporting during the war

The Verkhovna Rada has decided to cancel fines for late reporting during martial law

In Ukraine, the business is released from liability for violating the deadlines for disclosure of financial statements during martial law and for three months after its termination or cancellation. The Rada adopted the relevant bill No. 7378.

“The state continued to support entrepreneurs and businesses during the war. So we decided to cancel penalties for late filing of reports. From now on, you can publish financial statements with corresponding reports for the entire period on your website or on your website within three months after the termination or cancellation of martial law or a state of war for the entire period of non-publication, “said Olena Shulyak, co-author of document, head of the Servant of the People party, quoted by RBC-Ukraine.

In addition, legal entities are not liable for violations of the disclosure terms of:

• annual consolidated financial statements;

• audit reports;

• management report;

• consolidated management report;

• report on state payments;

• consolidated statement of state payments.

It was previously reported that approximately 47% of companies stopped working because of the war and only 6% adapted to it.

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