17:59 27.05.2020

Zelensky signs law to support taxpayers during quarantine restrictions

2 min read
Zelensky signs law to support taxpayers during quarantine restrictions

President of Ukraine Volodymyr Zelensky has signed the law on amending the Tax Code of Ukraine and other laws of Ukraine on additional support for taxpayers for the period of implementation of measures aimed at preventing the onset and spread of the coronavirus disease (COVID-19), which the Verkhovna Rada adopted on May 13, 2020.

"The law will allow employees of public and/or municipal healthcare institutions, who are struggling with the spread of coronavirus and treating patients with COVID-19, to receive cash compensation for personal income tax withheld from their extra payments of up to 300% of wages for May and June 2020, "the presidential press service said.

The law also provides for the possibility of obtaining partial unemployment assistance for individual entrepreneurs in the event they lose part of their income due to quarantine restrictions.

Moreover, such assistance for the quarantine period from April 2, 2020 is not subject to personal income tax and war tax.

In addition, self-employed persons are exempted from paying social security tax for May, this period will be counted in the length of service for receiving pensions, social insurance payments.

The law also provides local authorities with the right to decide on a reduction in the rates of land payments and taxes on real estate other than land in relation to non-residential real estate owned by individuals or legal entities.

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