Oksana Prodan
A draft tax reform is being urgently prepared for consideration in the Verkhovna Rada. This reform envisages the introduction of a new 30% tax on the amount of expenses incurred by individuals in excess of their income, according to Oksana Prodan, a member of parliament from the Petro Poroshenko Bloc. According to the new provisions, if expenses exceed the income declared by Ukrainian citizens, and no objective evidence is provided for these expenses, a 30% tax deduction will be imposed on the excess expenses. However, this provision of the bill is subject to change in parliament.
The MP explains that "the right to collect on accounts receivable is being granted. If you owe the budget and have nothing to deduct, but someone else owes you a debt, then the tax authorities will follow the chain."
Prodan also reported that the tax reform project envisages strengthening the powers of fiscal service employees.
As early as Wednesday, December 10, the relevant legislative initiative may be submitted for consideration to the relevant parliamentary committee.
As a reminder, on September 15, the government proposed a package of economic reforms to the Verkhovna Rada for vote. These reforms include amendments to tax and budget legislation so that the 2015 budget can be drafted based on these new laws. The reforms include a reduction in taxes from 22% to 9%, alignment of the corporate income tax with European standards, a reduction in the single social contribution from 41% to 15%, the abolition of audits for small and medium-sized businesses with annual revenues of up to UAH 20 million, and a halving of the single tax rate.
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