Головна Economics and agricultural policy Verkhovna Rada adopted amendments to the Tax Code

Verkhovna Rada adopted amendments to the Tax Code

The Parliament adopted on second reading the draft law № 5600 “On amendments to the Tax Code of Ukraine and some legislative acts of Ukraine on balancing the budget revenues. This is reported by ProAgro Grou” with reference to the information from the press service of the parliament.

The law improves the provisions of the Tax Code in terms of, inter alia, general issues of administration of taxes, corporate income tax, personal income tax, value added tax, excise and environmental taxes, rents, land fees, terms of stay on the simplified taxation system.

In addition it:

  • regulated procedural issues regarding the right of the supervisory authority to apply to the court for the establishment of temporary restrictions on the right to leave the head of a legal entity;
  • established as grounds for the supervisory authority to apply to the court for non-payment of tax debt by the taxpayer within 240 days;
  • defined the grounds for lifting such an injunction (in addition to the repayment of the debt added by the change of the debtor’s head, or in case of the commencement of bankruptcy proceedings against such debtor);
  • ienvisaged to maintain a Register of the Heads of Debtor Taxpayers in order to provide the taxpayers with the relevant information in a timely manner.

The Law also provides for the right of a supervisory body to send inquiries in case of identification of facts which may indicate a potential violation with justification of such facts, as well as limits the right of a taxpayer not to provide information and documents if such information which has already been provided to the supervisory body in the past.