IMF recommends that Ukraine removes companies from simplified taxation system

14:05, 09.02.2016 1 min read

The International Monetary Fund (IMF) recommends that Ukraine excludes all legal entities from the simplified taxation system in the short-term outlook.

The recommendation is outlined in the technical report assistance published by the IMF experts on Monday and entitled "Technical assistance report—reducing social security contributions and improving the corporate and small business tax system."

The IMF recommends that the country excludes all VAT taxpayers - including those who are voluntarily registered for VAT - from the simplified regime and not to unite social security contributions (SSC) and personal income tax (PIT).

The report is based on information that was available at the time it was completed on October 2015.