Мeeting at the Verkhovna Rada Committee on Tax and Customs Policies
23 October 2009
IBSER Participates in Improving the Tax Legislation
On 22 October 2009, a meeting was held at the Verkhovna Rada Committee on Tax and Customs Policies on finalizing a new version of the Law "On Amending Certain Legislative Acts of Ukraine for Improving Taxation of Small Businesses" with the purpose of clarifying some provisions (with regard to linking the fixed tax to the fact of paying the market charge) and introducing the compensating sources of revenues for local budgets. The meeting was attended by Ms. O.Kuzhel, Chairwoman of the State Committee on Entrepreneurship, O. Prodan, Chairman of the Entrepreneurs’ Council at the Cabinet of Ministers, representatives from the Ministry of Finance and State Tax Administration, and IBSER experts.
It was proposed during the discussion to introduce a 15% taxation of the surplus over the amount of earnings, which allows a business to use the simplified taxation system, and remit these funds into the local budget revenues, which are not taken into account when calculating the intergovernmental transfers (Second Basket). According to the Ministry of Finance, the revenues from enacting this provision would exceed Hr 1bn against Hr 480mn from the market charge revenues.
The Law “On Amending Certain Legislative Acts of Ukraine for Improving Taxation of Small Businesses" was registered at the Verkhovna Rada as No.5233 on 23 October 2009.
It was proposed during the discussion to introduce a 15% taxation of the surplus over the amount of earnings, which allows a business to use the simplified taxation system, and remit these funds into the local budget revenues, which are not taken into account when calculating the intergovernmental transfers (Second Basket). According to the Ministry of Finance, the revenues from enacting this provision would exceed Hr 1bn against Hr 480mn from the market charge revenues.
The Law “On Amending Certain Legislative Acts of Ukraine for Improving Taxation of Small Businesses" was registered at the Verkhovna Rada as No.5233 on 23 October 2009.
Glyanec