The Verkhovna Rada of Ukraine (VRU) is proposed to decrease the value-added tax from 20% to 15%, as said in the corresponding draft law №3357 “On Introduction of Amendments to Tax Code of Ukraine regarding tax liberalization”, which was brought before the parliament on October 26, RBC-Ukraine (РБК-Украина) reports.
It is reported that the rate of 15% is the minimum standard rate as per EU legislation in accordance with the Council Directive 2006/112 / on the common system of value added tax.
It is also proposed to implement an automatic budget refund of all VAT amounts, confirmed by the system of electronic administration of VAT and cancellation of restrictions on automatic refund. It is proposed to implement the public register of applications for budget refund; public disclosure of information about VAT refund in terms of certain taxpayers and requested VAT amounts to be refunded from budget; introduction of obligation of VAT refund exclusively in the order of precedence upon the receipt of applications.
In addition, it is proposed by the document to apply a special VAT taxation regime by the agricultural company only for operations in cattle breeding and cancellation of specifics of VAT taxation for supplies of grain and industrial crops, as a result of which all payers, who will export grain, will have the right for budget VAT refund.
