Legrant has achieved the abrogation of UAH 654.8 million penalties for the late receipt of a payment in foreign currency (Late payment penalties)

October 21, 2020 · News

Legrant successfully protected the client's rights in court, canceling tax notices-decisions on violation of legislation in the field of foreign economic activity for UAH 654.773 million.

During the scheduled audit, the tax authorities did not take into account the offset in the field of foreign economic activity. The inspectors argued that the proceeds in foreign currency were not received from the non-resident to the client's account, what contradicts the legislation, and the offsetting acts provided for verification did not meet the requirements of currency legislation.

Legrant's lawyers substantiated in court the legality of the debt repayment by offsetting equal counter claims and the absence of violation of the terms of settlements in the field of foreign economic activity.

At the same time, the court took into account the arguments of the lawyers about the absence of the obligation to declare foreign currency owned by the client in the form of debt, since as the currency was not outside Ukraine at the reporting dates.

The relevant case was handled by the Legrant's senior lawyer Natalya Makovetskaya under general supervision of the managing partner Tatyana Titarenko.