August 07, 2014

06/08/2014 Daily Highlights by “Digests & Analytics Ukraine” News Agency

Ukraine
  • The Government of Ukraine has developed a package of tax laws, on the basis of which is the budget been drawn up in 2015, the year for which laws must be adopted by the Verkhovna Rada. Service, in particular, for reducing the number of taxes from 22 to 9, structure change of the excise tax, by the insertion of the luxury tax, environmental fee and the target bonus to the tariff for electricity, a substantial redistribution of tax revenues to local budgets (real estate tax, a flat tax and a large part of the tax on income of individuals), the creation of a single body of financial investigations instead of the tax police and other investigating authorities in the field of economics. Among the main innovations planned - the unification of accounting and taxation, and a sharp decline in tax and payroll companies with the introduction of a progressive income tax scale. Tax on land and property on it is planned to combine. Major agricultural associations must be translated into a common system of taxation. The government forecasts the adoption of the proposed law in September after consultation with representatives of the business.