Rada adopts amendments to Tax Code

16:42, 29.12.2014 1 min read

The Verkhovna Rada has adopted a law on amendments to the Tax Code of Ukraine and certain laws of Ukraine (on tax reform).

250 MPs supported bill No. 1578, introduced by Prime Minister Arseniy Yatseniuk.

The law was passed at second reading, as a whole.

After a compromise was made with the coalition, Yatseniuk said that the number of taxes and fees, as previously planned, would be reduced from 22 to nine.

According to him, in terms of the taxation of small and medium-sized businesses, tax rates will be reduced and a moratorium on checks will be introduced for two years.

The premier added that cash registers will be compulsory for the third group of single tax payers (with an annual turnover of UAH 300,000 to UAH 20 million) from July 1, 2015, and for the second group (UAH 300,000 to UAH 1.5 million) - from January 1, 2016. The exception will be markets and portable trade.