How to calculate the VAT and income tax?
Department of Minrevenue in Kiev reported that the rate of value added tax in 2014 remained at 20% and will apply until the end of the year, the press service of Minrevenue in Kyiv informs.
This rule is set with paragraph 10, subsection 2 of section XX «Transitional Provisions» of the Tax Code of Ukraine. Using the VAT rate of 17% from 1 of January 2014 was transferred to January 1, 2015.
The income tax rate in 2014 is 18 %.
This rule is set with paragraph 10, subsection 4 of section XX «Transitional Provisions» of the Tax Code of Ukraine.
Further reduction in corporate tax rate will be gradual: in 2015 it will be 17% and in 2016 - 16 %.
