The European Business Association (EBA) insists on the necessity of approving rules for rounding amounts in checks that took effect from July 1, 2018 and asks not to apply fines for violation of cash discipline in this sphere, the association has said in a statement.

"As of September 7, there is no rounding of checks, which is due to the fact that there is no clarification to NBU Resolution No. 25 on optimizing the circulation of small denomination coins," the EBA said.

The EBA said that at present there are no explanations as to how the accounting documentation should be kept after rounding.

"For business, it is important to understand the specifics of accounting and taxation of rounding amounts, namely: how rounding amounts can be paid into VAT invoices, is it possible to round off the minimum and maximum prices for excisable goods, and how to keep tax records of rounding amounts."

As the EBA said, there is a minimal retail price for alcohol, which cannot be rounded down, and for tobacco products, on the contrary, rounded up. Otherwise, it will be a violation of the law, for which a fine is provided. However, there is no clear position of the State Fiscal Service of Ukraine, the Ministry of Finance and the National Bank of Ukraine on accounting for rounding amounts and amounts after rounding.

"The business is especially concerned about the inspections by the fiscal agencies at a time when this issue remains unregulated. However, there are already fines for violations. The European Business Association once again appeals to the National Bank of Ukraine, the Ministry of Finance of Ukraine and the State Fiscal Service prepare and publish appropriate explanations on the rules of rounding and the application of fines," the EBA said.