Ukrainian legislation allows business entities to take not only a bank loan, but also a loan in foreign currency or repayable financial assistance from a non-resident, as well as from authorized financial institutions, individual entrepreneurs, and individuals. All nuances regarding such "lending" are regulated by Articles 1046-1053 of the Civil Code of Ukraine.
It states that one party transfers money or other things to another, and the borrower must return the amount or things in the same quantity and quality. It can be provided by the state to its citizens within a certain program, by an enterprise to employees, or by banking institutions. The latter can issue it against collateral of real estate, securities, or property.
Based on the prescribed terms of the agreement, a loan can be either interest-bearing (as specified in the code) or interest-free (a transaction concluded by individuals for an amount less than 50 times the minimum income of citizens). In principle, nothing complicated. Moreover, this is a more advantageous option than a loan, because interest rates in this case are either significantly lower or absent altogether.
If the total transfer amount equals or exceeds 150,000 UAH and is related to the receipt of funds from an anonymous foreign account, insurance payments, or monetary transactions with promissory notes, then such a financial operation will be monitored by the relevant authorities. Obtaining a loan in foreign currency from a non-resident occurs through an authorized bank that has agreed to service the operations. To receive a foreign currency loan, it is necessary to confirm one's solvency.
If the borrower does not want to pay interest, and the lender does not object, then this is already repayable financial assistance. All agreements on foreign currency loans must be registered without fail. The absence of registration threatens with penalties – 1% of the amount in hryvnias at the exchange rate of the National Bank on the day of crediting the financial receipts.
Such operations must be correctly reflected in accounting. Usually, the receipt of such funds is not included in the taxpayer's income. To avoid problems with current and long-term liabilities, it is necessary to attend accounting courses in Kyiv, for example, at https://stimul.kiev.ua/. Highly qualified specialists will help refresh knowledge, understand the legislation, the intricacies of provisions and accounting.
Courses for chief accountants are intended for those who want to improve their professional level, learn to independently maintain tax accounting and know how to close periods and generate reports in special programs.
Foreign currency loans, all the nuances of their receipt and reflection in the accounting and tax documents of the enterprise are clearly regulated by Ukrainian laws. The opportunity to borrow funds for a specific period with the condition of repayment can help both ordinary citizens and entrepreneurs in a difficult financial situation.
Source: stimul.kiev.ua
PR