Tax and accounting insights for Ukraine
773 0

Register of damages caused by Russian aggression against Ukraine will start accepting applications in the coming weeks

On March 22, the European Business Association met with Markiyan Kliuchkovskyi, Executive Director of the International Register of Damage Caused by the Aggression of the Russian Federation against Ukraine. On the same day, the Register of Losses Office was opened in Kyiv to improve its efficiency and coordinate certain activities on the ground.

The final preparations for the start of the Register's work - acceptance of the first applications - are currently underway. The first category to be opened in the Register will be applications from individuals regarding damage or destruction of residential property. Further, over the next 12 months, other categories will be launched, the full list of which will be available on the Register's website in the near future.

In general, individuals, companies and the state will be able to submit claims to the Register. Applications may relate to damage on the internationally recognized territory of Ukraine and territorial waters caused since February 24, 2022. The period from 2014 to the beginning of the full year is not yet within the mandate of the Register. Foreign citizens and legal entities will also be able to submit applications to the Register.

The total number of applications that the Register will receive is estimated at 6 to 8 million, and in the category that will be launched first - applications from individuals regarding the destruction of housing - from 300 to 600 thousand.

Applications will be submitted digitally through the Diia portal, and legal entities will be able to do so through the Diia web portal with the connection to the Unified State Register. Later on, it will be possible to submit an application through the network of ASCs. It is expected that most of the application items will be filled in automatically by the system, pulling data from state registers. Given the large number of potential applications, various automated analysis tools, including artificial intelligence, will be used to process them.

In addition to damages caused to Ukrainian citizens, the Register's priorities will also include processing claims for damages resulting from the destruction of critical infrastructure that also affects businesses. Applications from businesses regarding the destruction or destruction of property and other losses will be accepted by the Register a little later. Several categories will be provided for legal entities: claims related directly to compensation for property damage and claims for business losses (economic consequences, lost profits, etc.).

The next steps are to establish a compensation commission and a compensation fund. Mr. Kliuchkovsky expects that the establishment of the compensation commission may take another year or so. The tools to ensure compensation payments will still be developed, as well as separate decisions on the sources of these payments will be made. Conceptually, it should be war reparations.

European Business Association

Buhgalter 911 notes that the content of the author's materials may not coincide with the policy and opinion of the editorial team. The authors of the published materials include not only representatives of the editorial team.

The information presented in a particular publication reflects the position of the author. The editorial team does not interfere with the author's materials, does not edit the texts, and is therefore not responsible for their content.

Для того, чтоб распечатать текст необходимо оформить подписку