Ukraine is preparing new tax rules for individual entrepreneurs and businesses. The Tax Committee of the Verkhovna Rada has supported draft law No. 16037-d, which has already passed its first reading and awaits a final vote in parliament.
Under the proposed legislation, the threshold for unscheduled tax audits on specific VAT grounds will increase from 100,000 UAH to 1 million UAH. Entrepreneurs paying VAT will also be allowed to choose between monthly and quarterly reporting.
Additionally, the bill provides for the automated completion of tax returns and invoices. It would also mandate including VIN codes for vehicle sales and IMEI numbers for smartphones in tax invoices.
#Ukraine #Economy
Under the proposed legislation, the threshold for unscheduled tax audits on specific VAT grounds will increase from 100,000 UAH to 1 million UAH. Entrepreneurs paying VAT will also be allowed to choose between monthly and quarterly reporting.
Additionally, the bill provides for the automated completion of tax returns and invoices. It would also mandate including VIN codes for vehicle sales and IMEI numbers for smartphones in tax invoices.
#Ukraine #Economy