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August. Final Training for SCRFSM (Kiev. Ukraine)
On August 05, 2010 the final training within the cooperation project aimed to improve professional development of employees of financial markets’ state regulators “Corporate Income Tax” organized by Baker Tilly Ukraine and supported by ACCA Ukraine, Baltic and Caucasus States, was held by Baker Tilly Ukraine’s trainer Vitaliy Havrysh at the premises of the State Commission for Regulation of Financial Services Markets in Ukraine.
The topics covered during the training included the accounting for tax treatment of business profits and disclosure of relevant information in the financial statements in accordance with IAS 12 "Income Taxes" and its Ukrainian analogue. The training comprised both theoretical and practical courses.
Emphasis was placed on deferred tax liabilities - one of the most problematic items of accounting in Ukraine. Attention was drawn to methods for calculating deferred tax liabilities, as well as indications of distortions in the financial statements in terms of tax liabilities.
In addition, tax optimization possibilities were extensively illustrated. Much consideration was given to optimization methods for both current and non-current tax liabilities, as well as associated risks in the legal environment of Ukraine.