Small and medium enterprises will not be audited next year

Oleksandr Klimenko, Minister of Revenue and Duties of Ukraine, has announced that the Ministry was going to extend the moratorium on inspections of small and medium-sized businesses in 2014. This announcement was made at the meeting on the issues of the simplified taxation system with over 400 entrepreneurs and experts, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

“This initiative was advanced by the business, and we supported it. I am sure that this measure will give the entrepreneurs on the simplified taxation system an incentive for growth and development, which in turn will increase payments to the budget,” Klimenko said.

The minister also stressed that the simplified taxation system has paid off both in terms of growth of entrepreneurial initiative, and in terms of budget revenues.

According to the Ministry, almost 1.5 million business entities use the simplified taxation system today. Last year alone, over 62,000 entrepreneurs became the new single tax payers. The most intensive growth (by 23%) in the number of businessmen is registered in the third group, which includes nearly 300,000 taxpayers today.

The government gives great attention to the development of small and medium business, as it is one of the main factors building up the Ukrainian middle class, as well as the guarantor of economical stability and improvement of social standards.

Government analysts say that activities aimed to deregulate and simplify the tax and customs procedures for small and medium businesses will be continued next year.