The Verkhovna Rada of Ukraine has passed the law on amendments to some legislative acts of Ukraine on the further improvement of tax administration.

As ForUm correspondent reports, the law has been passed in the second reading. It was supported by 232 MPs.

The proposed changes are to promote the development of domestic business.

In particular, it provides for reduced rates for small and medium enterprises: single tax payers of 5th and 6th groups will not pay 7% and 10%, but 5 and 7%, respectively.
In addition, restrictions on the number of employees shall be lifted for those categories of entrepreneurs.

In addition, the payers of the second group will report to the Tax Service once a year, not quarterly, as now. The bill also provides for the introduction of electronic forms for application on transfer to the simplified taxation system.


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