CFC report: accurate preparation and filing tailored to the business structure
- 15+ jurisdictions
- from 5 business days
- free 30-minute consultation
- 15+ jurisdictions
- from 5 business days
- free 30-minute consultation
We prepare and file controlled foreign company (CFC) reports for Ukrainian tax residents who own businesses abroad. We support the entire process, from determining the reporting obligation and assessing the tax implications to preparing documents and filing reports in accordance with Ukrainian law.
If you have a company in Estonia, Poland, the United Kingdom, Cyprus, Georgia, the United States or another jurisdiction, the KRYNO team will determine the reporting procedure for your business structure. You receive a clear action plan and an understanding of the next steps, as well as an accurately prepared CFC report reflecting your company’s operations and information from accountants and advisers in other countries.
We prepare and file controlled foreign company (CFC) reports for Ukrainian tax residents who own businesses abroad. We support the entire process, from determining the reporting obligation and assessing the tax implications to preparing documents and filing reports in accordance with Ukrainian law.
If you have a company in Estonia, Poland, the United Kingdom, Cyprus, Georgia, the United States or another jurisdiction, the KRYNO team will determine the reporting procedure for your business structure. You receive a clear action plan and an understanding of the next steps, as well as an accurately prepared CFC report reflecting your company’s operations and information from accountants and advisers in other countries.
Who the service is for CFC report
- This service is for you if:
You are a Ukrainian tax resident and control a foreign company.
You partially or fully own a foreign company and want to determine whether you must file a CFC report.
You plan to open a company in the EU, the United Kingdom or another jurisdiction and want to assess your future CFC obligations.
You work in IT, e-commerce, consulting or digital services through a foreign company.
- This service is not for you if:
You are not a Ukrainian tax resident and have no CFC obligations in Ukraine.
You do not have a foreign company and do not plan to open one in the near future.
You are not a controlling person of a foreign company and are not subject to the CFC rules.
You are not prepared to provide the documents and financial information required to prepare the report.
What is a CFC report and why is it required?
CFC report
Why is a CFC report required?
What is included in support for preparing a CFC report
- We determine whether you must file a CFC report and analyse the foreign company's ownership structure.
- We assess the company's financial indicators to identify the information that must be correctly reported.
- We agree the list of documents required to prepare the report and help obtain missing information from foreign accountants or advisers.
- We prepare the CFC report in accordance with Ukrainian law and verify all information before filing.
- We advise on CFC taxation, possible exemptions and the documents that should be retained to support the information filed.
- We support you after the report is filed and help prepare explanations or additional documents if requested by the tax authorities.
4 steps from the first enquiry to filing a CFC report
Assessment of your situation
During the initial consultation, we analyse the ownership structure and the company's country of registration and determine whether you must file a CFC report. You receive a document checklist and an understanding of the next steps.
Information collection
You provide documents and financial information about the foreign company. If some information is held by an accountant or adviser in another country, the KRYNO team will help arrange its collection.
Report preparation
We process the documents, prepare the CFC report and verify all information. Before filing, we agree the final version with you.
Filing and support
Once approved, the report is filed in the prescribed manner. Where necessary, we advise on further CFC obligations and help prepare responses if the tax authority submits additional requests.
How much does the CFC report service cost?
- Quick response
- No obligation
- Confidential
- Quick response
- No obligation
- Confidential
The fee may include an analysis of CFC obligations, report preparation, verification of financial information, tax advice, coordination with foreign specialists and support until filing.
Obtaining additional documents, translating financial documents, preparing explanations in response to tax authority requests or supporting non-standard situations may be agreed separately.
After a brief consultation, the KRYNO team will calculate the cost for your specific situation.
Everything you need to prepare a CFC report
Common myths and facts about a CFC report
Common assumptions:
“If a foreign company made no profit, no CFC report needs to be filed.”
“Filing a CFC notification replaces the CFC report.”
“If a company is registered in Estonia or Poland, no CFC report needs to be filed in Ukraine.”
“A CFC report can be prepared solely on the basis of the company's constitutional documents.”
The reality:
The reporting obligation is determined not only by the financial result, but also by the control criteria and Ukrainian legal requirements.
These are different documents. The notification reports the creation or acquisition of a company or a change of control, while the report is filed for a reporting period.
The company's country of registration does not exempt you from CFC obligations. If you are a Ukrainian tax resident and meet the control criteria, a reporting obligation may arise regardless of the jurisdiction.
Preparing the report also requires financial statements in the country of registration for the relevant period, accounting information and other documents confirming the foreign company's activities.
“If a foreign company made no profit, no CFC report needs to be filed.”
The reporting obligation is determined not only by the financial result, but also by the control criteria and Ukrainian legal requirements.
“Filing a CFC notification replaces the CFC report.”
These are different documents. The notification reports the creation or acquisition of a company or a change of control, while the report is filed for a reporting period.
“If a company is registered in Estonia or Poland, no CFC report needs to be filed in Ukraine.”
The company's country of registration does not exempt you from CFC obligations. If you are a Ukrainian tax resident and meet the control criteria, a reporting obligation may arise regardless of the jurisdiction.
“A CFC report can be prepared solely on the basis of the company's constitutional documents.”
Preparing the report also requires financial statements in the country of registration for the relevant period, accounting information and other documents confirming the foreign company's activities.
- FAQ
Frequently Asked Questions about a CFC report
Failure to file or late filing may lead to financial liability and additional requests from the tax authorities. If you are unsure whether you have a reporting obligation, it is best to determine this before the deadline. During a consultation, we will analyse your situation and help develop an action plan.
The absence of activity does not always mean that no report is required. The obligation depends on the controlling person's status, the company's circumstances and Ukrainian legal requirements. The KRYNO team will help determine which documents are required in your situation and whether a reporting obligation exists.
In most cases, preparing a CFC report takes 1–3 business days. The timeframe depends on the number of controlled foreign companies and the availability and completeness of the financial statements and other documents. After the initial consultation, we will assess the complexity of your situation and provide the exact timeframe.
In theory, yes. However, preparing the report requires correctly determining the controlling person's status, analysing the company's financial indicators, taking Ukrainian legal requirements into account and completing the form accurately. If you want to make sure the report has been prepared correctly, we can review the documents or provide full support.
Paying taxes abroad does not automatically cancel CFC obligations in Ukraine. These are different tax rules that apply in parallel. A proper assessment must take account of the company's country of registration, ownership structure and Ukrainian legal requirements.
The company's corporate documents, ownership structure information, financial statements and other documents confirming the CFC's activities are usually required. The exact list depends on the jurisdiction and your company's circumstances. We will provide it after analysing your situation.
If you control several foreign companies, a separate CFC report is filed for each controlled foreign company. The number of reports therefore depends on the number of CFCs for which you have a reporting obligation. During a consultation, we will analyse your ownership structure and determine which reports are required in your situation.
Yes. The KRYNO team works with companies whose accounting is maintained in other countries and, where necessary, coordinates the collection of information from local accountants or advisers. This allows the report to be prepared using current financial data.
Fulfil your CFC obligations on time and focus on growing your business
Preparing a CFC report requires an analysis of the ownership structure, financial information and Ukrainian legal requirements. If the company operates in another jurisdiction and its accounting is maintained abroad, collecting all the necessary information independently can be difficult.
During a free 30-minute consultation, we will analyse your situation, determine whether you must file a CFC report, explain which documents are required and estimate the timeframe and cost of support.
