Filing an Amended Tax Return for Industrial Real Estate: How to Avoid Errors and Fines

Taxation of industrial properties remains one of the most complex aspects of accounting and legal business support. When does filing an amended tax return become a necessity, what errors does it correct, and what deadlines must be met to avoid sanctions? In this article, we will break down the step-by-step algorithm and legal grounds for adjusting tax reports.

Legal Basis and State Tax Service (ZIR) Position

According to official clarifications set out in category 106.07 of the “Questions – Answers from the Knowledge Base” section of ZIR (zir.tax.gov.ua), owners of industrial buildings have faced the need to review their tax liabilities.

This is due to the enactment of the Law of Ukraine “On Amendments to the Tax Code of Ukraine regarding the improvement of tax administration, elimination of technical and logical inconsistencies in tax legislation.” According to the document, owners must file the following types of tax returns:

• “Amended” (Utochnyuyucha) — to adjust already existing figures;
• “Reporting” (Zvitna) — if no taxable objects had previously arisen by the filing deadline.

It is important to reflect relevant changes in the tax liability for real estate tax other than land plots for all periods starting from May 23, 2020.

Critical Deadlines for Filing Amended Reports

The legislation clearly defines the timeframes for submitting corrective documentation. Failure to meet these deadlines may lead to the accrual of interest and penalties by the tax authorities.

Based on an analysis of legislative changes, the following key points can be highlighted:

1. Within 30 calendar days from the date the Law entered into force, it was necessary to clarify data for past periods.
2. For industrial real estate objects that became subject to taxation from May 23, the filing deadline fell on June 22.

Changes in the Tax Base: Other Cases

Since the Tax Code (TCU) does not specify a separate special term for many situations involving changes in the tax base, general rules should be followed. Such cases include:

• Changes in tax rates or property type codes;
• Introduction of new or cancellation of existing tax benefits;
• Cancellation of ownership rights or change in the share of joint ownership;
• Changes in the technical characteristics of the object affecting the tax calculation.

In such situations, the provision of subpara. 266.7.5, para. 266.7, art. 266 of the TCU applies. According to it, an amended Declaration must be filed within 30 calendar days from the date of the corresponding changes in the tax base.

Conclusions and Recommendations for Business

Timely filing of an amended tax return is not only an obligation but also a means of protecting the business from unforeseen financial losses. Given the complexity of property tax administration, we recommend conducting regular Legal Due Diligence of owned assets.

Expert Assistance

Denys Fedorkin — Managing Partner of the Law Business Association (LBA) law firm. Specializes in tax law, asset protection against hostile takeovers, and legal support for real estate transactions in Ukraine and Spain. By combining deep legislative knowledge with practical business experience, he helps clients build secure and efficient property ownership structures.

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