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New rules for sole proprietorship in field of small business come into force

Source : 112 Ukraine

Now individual entrepreneurs of 2-4 groups, regardless of their type of activity and level of income, will be obliged to use cash registers
15:47, 1 January 2022

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Today, January 1, new rules for individuals - entrepreneurs working in the field of small business came into force in Ukraine.

According to the law, individual entrepreneurs of 2-4 groups, regardless of their type of activity and level of income, will be required to use cash registers.

Exempt from the establishment of a cash register is noted for individual entrepreneurs of the 1st group (entrepreneurs who do not have employees and who carry out retail trade for cash in the markets, or who work according to the B2B business model).

The State Tax Service reported that in connection with the increase in the minimum wage and living wage in 2022, the payment by entrepreneurs of the unified social contribution and the unified tax will increase.

For an individual entrepreneur of the 1st group, the unified social contribution will be:

from January 1, 2022 - UAH 1430 (40040 USD);

from October 1, 2022 - UAH 1474 (41272 USD);

single tax - UAH 248.1 (6944 USD) - no more than 10% of the subsistence minimum for able-bodied persons as of January 01, 2022.

Related: Ukraine extends ban on Russian imports until late 2022

For an individual entrepreneur of the 2nd group, the unified social contribution will be:

from January 1, 2022 - UAH 1430 (40040 USD);

from October 1, 2022 - UAH 1474 (41272 USD);

single tax - UAH 1300 (36400 USD) - 20% of the minimum wage established by law as of January 01, 2022.

For a sole proprietorship of the 3rd group, the unified social contribution will be:

from January 1, 2022 - UAH 1430 (40040 USD);

st October 1, 2022 - UAH 1474 (41272 USD);

single tax - 5% of income or 3% of income and VAT.

For sole proprietorship of the general taxation system, as for the abovementioned sole proprietorship, unified social taxes from January 1, 2022 will amount to UAH 1430 (40040 USD), from October 1, 2022 - UAH 1474 (41272 USD).

At the same time, the income of a sole proprietor under the general taxation system is taxed at the rate of 18% personal income tax and 1.5% of the military levy on net income, which is defined as the difference between cash and non-cash receipts and documented expenses related to economic activities.

All groups of entrepreneurs can pay not only the minimum amount of unified social taxes.

For failure to install cash registers, the relevant groups of sole proprietors face the payment of fines in the amount of 100% of the products sold. If the violation is recorded a second time, then the payment of the fine will be 150% of the value of the products sold in violation. However, earlier the tax office pledged not to fine entrepreneurs until the end of the quarantine.

Related: Russia continues building up military force on border with Ukraine, - Bloomberg

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