The new draft law “On Amending the Tax Code of Ukraine (improving the investment environment)” will help to reduce the level of corruption while paying the taxes. On December 8, the Verkhovna Rada approved it only in principle but its adoption is coming.
The entrepreneurs will stand to gain from it most. According to this draft law, they will have an opportunity to pay taxes via the Internet – using a personal e-cabinet. It will contain all the necessary information as well as enable sending tax reports and keep correspondence with the representatives of the Fiscal Service.
The tax break will be in effect for the new entrepreneurs. During five years they will have no need to pay taxes. This is necessary for the development of small business.
Abuses and tax controversies will be decreased in number through the generalized registers for the varied tax information. The Ministry of Finance will control all the data bases.
And lastly, it will be legal not to pay local taxes and forfeits in the ATO territories.
Source: The Ministry of Finance