In Ukraine, before July 1, taxation for individual entrepreneurs will be changed. For them, the preferential tax rate of 2% will be canceled, in addition, documentary checks and fines will be returned.
In the Committee on Finance, Tax and Customs Policy, several people told GLOBAL HAPPENINGS at once: the decision to cancel benefits for FOP will be made, this will help to receive significant support from the IMF in the future. BesidesUkraine has actually already agreed to such a step by signing the corresponding memorandum.
The bill on the revision of tax rules was registered in the Rada by the Cabinet of Ministers at number 8401. Earlier, the government voted for the document and supported it. According to the document, until July 1, 2023:
- abolish the 2% tax for FLP of the third group (5% will be returned);
- FLPs of the first and second groups will are required to pay a single tax;
- return documentary checks and fines for violation of tax laws;
- will be fined for the lack of RPO.
“These are steps in fiscal policy that the Ukrainian authorities are obliged to carry out under the Memorandum on Economic and Financial Policy dated December 8, 2022… But if we return to the pre-war state of the taxation system, then why did the authorities “forget” about their responsibility to payers, at least for a timely VAT refund? – Nina Yuzhanina commented on the decision of the ex-chairman of the tax committee.
The return of “old” taxes will not make it possible to compensate for the huge budget deficit. According to the estimates of the head of the committee Daniil Getmantsev, over the 8 months of preferential rates, the budget lost about UAH 7 billion. In fact, the state loses about UAH 900 million every month. But at the same time, the annual budget deficit in 2023 will amount to UAH 1.31 trillion.
As GLOBAL HAPPENINGS wrote earlier, Ukrainians also have to pay 18% additional income. For example, if you received a fee for an independent professional activity.
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.