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CFC reporting in Ukraine in 2025

We will help with the preparation and submission of reports on a Controlled Foreign Company

Benefits of a CFC report with Finevolution

7 years in the business consulting market
In 2024, we submitted 152 reports without penalties or corrections from the tax authorities
We document all agreements and fulfill our obligations on time
We carefully prepare for each request and stay up to date with changes in legislation and STS instructions

In 2024, controlled foreign companies submitted both full and abbreviated reports, and we strongly recommend doing the same in 2025. Why? Our clients who registered a company at the beginning of 2024 have already received notifications from the State Tax Service about the mandatory submission in 2025 and outlining the penalties for non-compliance.

Rules in Ukraine Are Governed by the Following Laws:

Finevolution submitted full and abbreviated CFC reports in 2024. We also recommend submitting them for 2025. This is because our clients who registered a company in early 2024 have already started receiving official letters from the State Tax Service reminding them to submit CFCs in 2025 and describing the penalties that may be imposed for failure to do so.

You should start preparing early because the CFC is not a simple filing of an annual declaration but a complex, multi-level financial report (or zero if the company did not conduct any activities) on the financial results of your Controlled Foreign Company. We strongly recommend that you do not postpone this issue until mid-April, as, in our experience, gathering all necessary financial information takes between 2 to 4 weeks.

Ukrainian CFC in 2025, what to consider?

Here is the answer and a list of what you will need to prepare for Controlled Foreign Companies 2025:

  • Pay attention to the deadlines. According to Art. 39-2.5.2. of the Tax Code of Ukraine, you must obtain duly certified financial statements for your company to be on time. The deadline for submitting the CFC report is 30.04.2025
  • If you have old CFCs for 2022-2023, now is the time to obtain comprehensive financial statements for them.
  • If you have inactive controlled foreign companies (those that exist only on paper and have no financial activity) now is the best time to liquidate them and reduce future reporting obligations.

The first reporting (tax) years are 2022 and 2023. If you registered a CFC in 2024, you had to submit a notification to the CFC within 60 days from the date of registration. If you have not done so, we recommend that you do so. Also, if you registered a company in 2023, you must submit a report in 2025. This is an important aspect to consider when planning your business activities.

Given that the reports must contain detailed information on the company’s financial results and are submitted simultaneously with the annual property and income tax return or income tax return, preparation for this process requires considerable time and attention. Also, please note that company reports prepared in languages other than English require translation. The reports are translated by accredited agencies, and the translation process also takes time, so you should take this into account. The deadline for submitting the report to the CFC is April 30, 2025.

How do I order CFC reporting for Ukrainians?

Choose your preferred communication channel that is on our website and leave a request
Prepare the necessary financial statements, documents, and information about the company
Get a consultation from our specialists
Start the preparation process with our team
Choose your preferred communication channel that is on our website and leave a request
Get a consultation from our specialists
Prepare the necessary financial statements, documents, and information about the company
Start the preparation process with our team

What is included in the service of preparing and submitting a CFC?

  • Initial consultation. Collection of necessary data from the customer
  • Preparation of a report for one tax year for one controlling person for one company
  • Analysis of the submitted financial statements of a foreign company in another jurisdiction
  • Sending the report through the taxpayer’s electronic account
  • 1 hour of consultation and communication with the translation agency regarding the translation order (if necessary)

* The cost of translation is paid to the translation agency (if necessary)

Format for preparing a CFC report for Ukrainians

Our team offers several options for CFC report submission, whether you prefer independent preparation and working with our specialists. 
  • Option #1 up to EUR 2 million – for cases with total aggregate income from all sources, which, according to the financial statements, does NOT exceed the equivalent of EUR 2 million at the end of the reporting period.
  • Option #2 over 2 million – for cases with total revenue from all sources that, according to the financial statements, exceeds the equivalent of EUR 2 million at the end of the reporting period.
  • Self-submission—If you prefer to prepare the report yourself and navigate the legislative nuances, we offer ‘Option 3: Roadmap’—a step-by-step guide for independent preparation and submission

Please note! The option of preparing and submitting the report independently is relevant only if the income is up to EUR 2 million, and, accordingly, there is no obligation to calculate the CFC’s adjusted profit. 

The instruction is developed specifically for your case, taking into account the current situation of your CFC, and contains:
  • Deadlines and format for submitting documents
  • Detailed instructions for filling out the report and related documents
  • A specific list of documents that are required to be submitted with the report
  • List of documents required for translation
  • Nuances and tips for preparing financial statements in a foreign jurisdiction
  • Provided written and oral discussions of all issues at an online meeting (up to 1 hour)

The preparation period is 5-7 business days.

What form of CFC report should the Ukrainian submit?

The law provides for two forms of the report — full and abbreviated. 

  • The shortened form is submitted when the controlling person cannot ensure the preparation of the controlled foreign company’s financial statements and/or calculation of its adjusted profit by the deadline for filing the annual declaration of property and income or corporate income tax return.
  • This form differs from the abbreviated form “not only in size”, consisting of more than 30 items, but also in the composition of the information to be provided in this report. In the full report, it is necessary to correctly determine what type of control, type and ownership structure of the CFC corresponds to your case. In addition, a full report requires the identification and disclosure of transactions with certain counterparties. It may be one or two transactions, but sometimes it is hundreds.

 

Our team will be happy to help you prepare for CFC reporting. We recommend starting this process in advance.


We operate Monday to Friday, from 9:00 AM to 7:00 PM. For a CFC consultation, submit a request via the website form or contact us via WhatsApp, Telegram, or Viber.

A quick chat

If you have any questions, feel free to chat with our experts!

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