{"id":12339,"date":"2025-05-14T10:23:10","date_gmt":"2025-05-14T07:23:10","guid":{"rendered":"https:\/\/gls-law.company\/?p=12339"},"modified":"2025-05-14T10:23:13","modified_gmt":"2025-05-14T07:23:13","slug":"over-58-000-cfc-reports-filed-geography-taxes-and-key-insights","status":"publish","type":"post","link":"https:\/\/gls-law.company\/en\/over-58-000-cfc-reports-filed-geography-taxes-and-key-insights\/","title":{"rendered":"Over 58,000 CFC Reports Filed: Geography, Taxes, and Key Insights"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The State Tax Service of Ukraine has published preliminary results of the Controlled Foreign Company (CFC) reporting campaign. From 2022 to 2024, a total of <strong>58,220 CFC reports<\/strong> were submitted, including <strong>19,162 in 2024<\/strong> alone. <strong>GLS Law<\/strong> is proud to have been among the first to guide clients through this new legal and tax compliance challenge.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udccc <strong>Who Filed Reports?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>98%<\/strong> of reports were filed by <strong>individuals<\/strong>.<\/li>\n\n\n\n<li>Only <strong>2%<\/strong> came from <strong>legal entities<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This confirms that CFC obligations primarily affect <strong>entrepreneurs, investors, IT professionals<\/strong>, and <strong>expats<\/strong> who have established companies abroad.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udccd <strong>CFC Geography \u2014 Where Do Ukrainians Incorporate?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Most popular jurisdictions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\ud83c\uddf5\ud83c\uddf1 <strong>Poland<\/strong> \u2014 23%<\/li>\n\n\n\n<li>\ud83c\udde8\ud83c\uddfe <strong>Cyprus<\/strong> \u2014 10%<\/li>\n\n\n\n<li>\ud83c\uddfa\ud83c\uddf8 <strong>USA<\/strong> \u2014 10%<\/li>\n\n\n\n<li>\ud83c\uddec\ud83c\udde7 <strong>United Kingdom<\/strong> \u2014 10%<\/li>\n\n\n\n<li>\ud83c\uddea\ud83c\uddea <strong>Estonia<\/strong> \u2014 9%<\/li>\n\n\n\n<li>\ud83c\udf0d <strong>Other countries<\/strong> \u2014 38%<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This trend highlights a preference for <strong>transparent<\/strong>, <strong>stable<\/strong>, and <strong>accessible<\/strong> jurisdictions \u2014 but also underscores: the country of incorporation is not just about taxes, but also about <strong>reporting obligations and legal responsibility<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udcb0 <strong>How Much Was Paid in Taxes?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total CFC-related tax liabilities (2022\u20132024): <strong>UAH 4.9 billion<\/strong>.<\/li>\n\n\n\n<li>For 2024 alone: <strong>UAH 2.9 billion<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This demonstrates not only a functioning system, but also a <strong>strong fiscal impact<\/strong> and growing awareness among Ukrainian taxpayers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udee0 <strong>What If There Are Errors?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The tax authority reminds taxpayers: you may <strong>correct CFC reports voluntarily<\/strong> under subpara. 69.38 of para. 69, Section XX of the Tax Code of Ukraine. Proactive correction is <strong>far better than post-factum audit exposure<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GLS Law is already assisting in dozens of such cases \u2014 from <strong>technical fixes<\/strong> to <strong>full structural overhauls<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83c\udfaf <strong>Our Role in the CFC Campaign<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">At <strong>GLS Law<\/strong>, we are proud to have been <strong>a trusted partner<\/strong> for clients filing CFC reports for the first time. We:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>assessed ownership structures;<\/li>\n\n\n\n<li>verified reporting obligations;<\/li>\n\n\n\n<li>prepared and submitted reports;<\/li>\n\n\n\n<li>advised on tax implications and planning strategies.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For us, CFC reporting is <strong>not an endpoint<\/strong> \u2014 it\u2019s the foundation for <strong>strategic international tax planning<\/strong> and secure business structures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udccc <strong>Uncertain about your CFC report or haven\u2019t filed yet? Contact GLS Law \u2014 we will help you comply today and build resilience for tomorrow.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State Tax Service of Ukraine has published preliminary results of the Controlled Foreign Company (CFC) reporting campaign. From 2022 to 2024, a total of 58,220 CFC reports were submitted, including 19,162 in 2024 alone. GLS Law is proud to have been among the first to guide clients through this new legal and tax compliance [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":12327,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[222],"tags":[],"class_list":["post-12339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cfc"],"_links":{"self":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/posts\/12339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/comments?post=12339"}],"version-history":[{"count":1,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/posts\/12339\/revisions"}],"predecessor-version":[{"id":12340,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/posts\/12339\/revisions\/12340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/media\/12327"}],"wp:attachment":[{"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/media?parent=12339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/categories?post=12339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gls-law.company\/en\/wp-json\/wp\/v2\/tags?post=12339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}