President Volodymyr Zelenskyy initiates the replacement of VAT and income tax with a rate of 2% of turnover.
He announced this during a video address, Ukrainian News Agency reports.
According to the President, in order for business to work and people to work where security allows it, the Cabinet of Ministers has developed a solution to support the Ukrainian economy.
The main positions of the tax reform:
- instead of VAT and income tax - a rate of 2% of turnover and simplified accounting;
- for small businesses (the first and second groups of individual entrepreneurs) - voluntary payment of a single tax (that is, if it can, it pays, if it cannot, there are no questions);
- deregulation of business: all inspections are canceled for all businesses.
“For everyone to work normally. For cities to come to life. For life to continue wherever there are no hostilities. There is only one condition: you ensure the normal operation of your business within the framework of Ukrainian law,” the President noted.
He added that these are just two initial steps of the tax reform.
As Ukrainian News Agency reported, the Parliamentary Committee on Finance, Tax and Customs Policy proposes the Verkhovna Rada allow non-paying of unified social tax to entrepreneurs who do not receive profit.
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