Draft bill №4930
The Verkhovna Rada of Ukraine adopted draft bill № 4930 On Changes to the Tax Code of Ukraine, to serve as a basis, setting out peculiarities of income taxes imposed on enterprises and value-added tax in case compromise is applied», the press-office of the Ministry of Revenue & Duties reports.
«This draft bill is needed because it was business that announced the request to trigger the compromise mechanism. A positive aftermath is that the Parliament has met entrepreneurs halfway and supported an initiative to release business from criminal, financial an administrative responsibility, in case they avail themselves of the compromise on taxation», - noted First Deputy Minister for Revenue & Duties of Ukraine Ihor Belous.
In his opinion, after expiry of compromise agreement such business can choose to become more transparent in everything they do - undergo audit checks, raise investments, and plough back of profits.
Moreover, the draft bill on tax compromise envisages exemption of tax payers from financial, criminal and administrative responsibility in case of paying 15% of earned income tax and/or VAT due, on a voluntary basis, which amount for taxable periods ended January 1, 2014 has been understated.
