How do I accrue penalties under the Tax Code

Features of charging penalties under the Tax Code of Ukraine. Explains the appeal of the STA sector in the city of Sevastopol. Tax Code of Ukraine, which entered into force on 1.1.1911, installed some improvements in the order of calculation and payment of fines. These issues are dealt with by Articles 129, 130, 131 of the Tax Code and the Regulations on the procedure of calculation and payment of penalty payments, which are controlled by the state tax service (approved by Order of the State Tax Administration of Ukraine from 17.12.10 № 953 and registered with the Ministry of Justice of Ukraine 27.12.2007 for № 1350/18645). Thus, sub-paragraph 129.1.2 129.1 Article 129 of the Tax Code provides for accrual of penalty in the amount of understatement of tax liability, the identified regulatory authority or the taxpayer. Accrual of penalty in this case occurs on the day of maturity of the tax liabilities accrued regulatory authority or the taxpayer, the amount of such understatement, and for the whole period of low (including the period of administrative and / or judicial review). Example of calculating penalties in case of under- tax liability listed in Annex 2 to the Regulations on the procedure of calculation and payment of penalties for payments that are controlled by the state tax service. Situation: As a result of the documentary audit by the authority of the state tax service, tax notices - the decision has accrued tax liabilities on income tax at a rate of 20,000 hryvnia for 9 months of 2010. The tax notice is a solution obtained by the taxpayer 02.01.1911. Within 10 calendar days following the date of receipt, he must pay it. Penalty is charged at the rate of 120 percent annual interest rate of the National Bank of Ukraine, acting on a day understatement. Assume that the discount rate of the National Bank of Ukraine, on the day of understatement (as of 11/19/1910) is equal to 7.75%. Calculation of penalties in the amount of underreporting 20000grn. will be implemented for the entire period of understatement (from 19/11/2010 to 02/10/2011 inclusive) by the formula: x azanizhenie Kdnіv: 100% cotton UNBU x 1,2 Y = ____________________________________________, R where: Y - the sum of penalties, which is charged on the amount understatement of tax liability; azanizhenie - actually understated the amount of tax liability; Kdnіv - Number of days understatement; UNBU - discount rate of National Bank of Ukraine, which operated on the day of understatement of tax liability, 1,2 - factor for calculating the 120% APR UNBU; R - Number of days per calendar year. 20,000 x 84: 100% x 7.75% x 1.2 = 428.05 ____________________________________________ 365 Thus, in the above case, the taxpayer accrued penalties will be 428.05 USD.