Fill in line 11 "Number of employees of the controlled foreign company" of the CFC Report
What information is to be provided in line 11 "Number of employees of a controlled foreign company" of the Report on Controlled Foreign Companies (CFC)?
Paragraph 392.5 of the TCU sets out the requirements for the preparation and submission of the Report on Controlled Foreign Companies. In particular, subpara. 392.5.2 of the TCU provides that individuals - controlling persons are obliged to submit the Report on Controlled Foreign Companies (hereinafter - the Report) to the controlling authority simultaneously with the submission of the annual declaration of property status and income for the relevant calendar year by means of electronic communication in electronic form in compliance with the requirements of the laws of Ukraine dated 22.05.2003 No. 851-IV "On Electronic Documents and Electronic Document Management" and No. 2155-VIII "On Electronic Identification and Electronic Trust Services" dated 05.10.2017.
The Report must be accompanied by duly certified copies of the financial statements of the controlled foreign company confirming the amount of profit of the controlled foreign company for the reporting (tax) year.
The Order of the Ministry of Finance No. 254 dated 25.08.2022 approved the form of the Report, the abbreviated form of the Report and the Procedure for filling out the Report on Controlled Foreign Companies, the abbreviated form of the Report on Controlled Foreign Companies and submission to the supervisory authority (hereinafter - the Procedure).
Pursuant to clause 11 of Section II of the Procedure, column 11 "Number of employees of the controlled foreign company" indicates the number of employees of the controlled foreign company in the reporting (tax) period.
According to sub-clause "h" of clause 392.5.3. the Report, in particular, shall indicate the number of employees of the controlled foreign company as of the end of the reporting (tax) year.
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