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Economy 2020-05-30T04:02:21+03:00
Ukrainian news
Rada Exempts "Sleeping" Individual Entrepreneurs From Unified Social Contribution Payment

Rada Exempts "Sleeping" Individual Entrepreneurs From Unified Social Contribution Payment

Rada, Verkhovna Rada, tax, individual entrepreneurs, unified social contribution

The Verkhovna Rada has exempted "sleeping" individual entrepreneurs from paying a unified social contribution.

On April 13, 321 parliamentarians voted for adoption of bill No. 2166 as a whole, with the minimum required 226, Ukrainian News Agency reports.

The bill proposes amendments to Articles 4 and 7 of the law On the Collection and Accounting of a Unified Contribution for Compulsory State Social Insurance.

The document has supplemented the list of persons exempted from the payment of a unified social contribution by persons engaged in independent professional activities if they receive an old-age pension or are persons with disabilities.

Such persons will be able to be payers of a unified social contribution only subject to their voluntary participation in the system of compulsory state social insurance.

Persons engaged in independent professional activities are also exempted from paying a unified social contribution, provided that they are registered as individual entrepreneurs and that they carry out the same type of activity.

The Ministry of Finance, in its expert opinion on the bill, notes that the implementation of its provisions will lead to a decrease in the revenue side of the budgets of the Pension Fund and social insurance funds, and this in turn may affect the balance of the respective funds.

As Ukrainian News Agency earlier reported, the receipt of a unified social contribution in April amounted to UAH 22.592 billion, whereas in April last year this figure amounted to UAH 23.475 billion.

In January-April, the unified social contribution was received in the amount of UAH 91.990 billion, while last year during the same period UAH 84.799 billion was received.


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