K.A.C. Group Partner Tetiana Kuzmych Presented a Lecture “Taxation of Non-Profit Organizations” for Business Consulting Academy

In modern democracies, it is extremely important to pay attention to the organizations that help the public to take an active part in social processes and promote the ideas of civil society. Non-profit organizations (NPOs) are one of the leading drivers of this process. One should also not forget to spread awareness about such associations, so K.A.C. Group does not stay away from this issue.
Thus, on December 9, Tetiana Kuzmych, Partner of K.A.C. Group, Managing Partner of “PRIME” Attorney Firm and Treasurer of Civil Association “Rotary Club “KYIV” (Rotary International), gave a lecture “Taxation of Non-Profit Organizations” for attendees of the “Business Consulting Academy” educational platform. This project specializes in programs, courses and webinars for lawyers and attorneys working in various fields of law.
In her report, the lecturer highlighted the following issues:
⇨ Functions of NPOs in modern society and relations between the state and citizens, and their role in the development of civil society;
⇨ Types and legal status criteria of NPOs as established by the Tax Code;
⇨ Ukrainian-specific features of functioning and classification of NPOs recorded in the United State Register;
⇨ Requirements for taxation of NPOs and submission of tax reports by them ‒ it is important to stress that for this type of organization, it is necessary to prepare a special type of report;
⇨ Procedure for submitting financial statements by NPOs ‒ we note that it is quite convenient since there are no noticeable differences in comparison to other types of organizations;
⇨ Some interesting examples of conclusions about tax liabilities of NPOs, drawn from the practice of Ukrainian courts.

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