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Ukraine to develop tax law taking into account business’ offers

Source : 112 Ukraine

The President’s Office discussed the taxation law #1210 with the business’s representatives
18:29, 28 May 2020

Meeting of Deputy Head of the President’s Office Yulia Kovaliv, Head of Executive Committee of Reforms Mikheil Saakashvili, Head of Verkhovna Rada Committee on Finances, Tax and Customs Policy Danylo Hetmansev, representatives of the Finance Ministry, State Revenue Service and the biggest Ukrainian business associations
Facebook Yulia Kovaliv

Deputy Head of the President’s Office Yulia Kovaliv held a meeting with the business representatives concerning the developments of the legislative initiatives on the improvement of the tax legislation. Head of Executive Committee of Reforms Mikheil Saakashvili, Head of Verkhovna Rada Committee on Finances, Tax and Customs Policy Danylo Hetmansev, representatives of the Finance Ministry, State Revenue Service and the biggest Ukrainian business associations attended the meeting as the President’s Office reported.

“Covid-19 pandemic put all of us in the conditions when we need to respond quickly to challenges and changes. Currently, we need to support the business as much as possible as it only starts to emerge from the quarantine; we need to provide it with a possibility to return people to the working places and work at full capacity,” Kovaliv said.

Related: Parliament adopted bill "On tax terror", media say

She also underlined the readiness for the open dialogue and the importance of consideration of all comments and offers of business. The representatives of the business associations, in their turn, expressed the key wishes concerning the urgent amendments to the tax legislation.

Particularly, they expressed the next wishes:

  • the necessity to delay particular points of the law #466-IX;
  • determination of clear and comprehensible rules of taxation of controlled foreign companies;
  • provision of sufficient time for taxpayers to provide the collection of data and information necessary to declare proper objects of taxation;
  • reduction of the fines for particular insignificant tax violations.

Related: Law on single account for payment of taxes and fees came into force

Deputy Head of the President’s Office supported the expressed offers and drew attention to the interest of all parties of the meeting in their implementation within the legislative initiative as soon as possible.

“We are on the same page with 90%. It gives us a hope that in two weeks the text of the bill with the consideration of the business’s offers might be filed to the parliament,” Kovaliv noted.

She adds that tomorrow, the discussion of the particular blocks of amendments will begin in the task groups that include representatives of authority and business.

Related: Cabinet of Ministers dismissed head of Customs House, head of State Tax Service

Saakashvili also expressed the readiness to support the dialogue with business and underlined the importance of combining efforts to reach the result.

“Signing bill #1210, the president immediately provided us the task to find the common solution with business to work normally and adapt to all changes,” he concluded.

As we reported, the Cabinet of Ministers of Ukraine extended the program for economic stimulus to overcome the consequences of the Covid-19 pandemic.

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