How can a translation agency in Ukraine reduce the tax burden?

For a law firm, translation agency in Ukraine there are several strategies that can help reduce the tax burden:

1. Choice of taxation system

  • General taxation system: Suitable for large enterprises with annual income over UAH 40 million. The main tax is profit tax (18%). Additionally, taxes are paid on dividends (5%), unified social contribution and military tax (1,5%).
  • Simplified taxation system: Suitable for small and medium businesses with annual income up to UAH 7 million. Tax rates: 5% excluding VAT or 3% + VAT.

2. Using tax incentives

  • Benefits for small businesses: Includes a simplified tax system, exemption from certain taxes and reduced tax rates.
  • Benefits for innovative enterprises: Certain types of activities may be exempt from income tax or VAT.

3. Cost optimization

  • Accounting for all expenses: Inclusion of all possible expenses in tax reporting to reduce the taxable base.
  • Investments in development: Costs for employee training, equipment upgrades and other investments can reduce taxable income.

4. Consultations with tax specialists

  • Professional advice: Consult a tax advisor or accounting firm for advice on how to optimize your taxes and take advantage of all available benefits.

Examples of tax incentives

  • Exemption from income tax: For new businesses during the first few years of operation.
  • Reduction of single tax rates: For enterprises operating in priority sectors of the economy.

These strategies will help your company or translation agency effectively manage its tax burden and use all available opportunities to reduce taxes.

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