Poroshenko signed amendments to the Tax and Budget codes of Ukraine

The President of Ukraine Petro Poroshenko has signed the law # 2233-VIII «On amendments to the Budget code of Ukraine» and the law №2245-VIII «On amendments to the Tax code of Ukraine and certain legislative acts of Ukraine concerning balancing the budget revenue in 2018″. On 30 December, reported his press service.

Act No. 2233-VIII, which the Verkhovna Rada adopted on 7 December, to regulate certain issues related to the state budget of Ukraine to 2018, and to create conditions for stable functioning of the budgetary system and implementation of medical and educational reforms.

The law clarifies the procedure for the formation and execution of local budgets, interbudgetary relations between the state and local budgets.

The document will come into force on 1 January 2018, except for subparagraph 5 of paragraph 37 of section I, which shall enter into force the day after publication.

Changes to the Tax code provide for the resolution of the question of the blocking of tax invoices and calculations of adjustment in the Unified register of tax invoices. In addition, changes in the rules for duty-free import of goods into the territory of Ukraine, including international mail and Express shipments; implemented a number of incentive and preferential rules, including the provision of benefits for certain types of activities and certain types of products; regulate the issue of indexation of normative monetary evaluation of lands of agricultural purpose and so on.

«The implementation of the law will create conditions for balancing the budget revenue in 2018, including by increasing the rates of individual taxes, defined in absolute values, the fulfillment of Ukraine’s obligations before the EU on a gradual increase of excise tax rates on tobacco products, promotion of entrepreneurship and liberalization of conditions for doing business, protection of taxpayers ‘rights and strengthening responsibility of officials of controlling authorities for violation of the rights of economic entities», – stated in the message.

The law will come into force on 1 January 2018, except for certain law points, which come into force on the day following publication, 1 July 2018 1 January 2019 and 1 January 2025.

On 8 December, the Verkhovna Rada adopted amendments to Tax code to balance budget revenues in 2018 (bill No. 6776-d). The document was adopted on second reading and in General 252 votes. The changes limit the ability of frequent importation of goods through the border of Ukraine without payment of duty and reduced the number of tax-free shipments of goods to individuals by international postal services or companies, Express delivery.

According to amendment No. 106, a person in Ukraine can receive without paying fees three commercial postal items from abroad for one calendar month up to €150 each. The fourth and all subsequent parcels should be taxed and excise.

In the previous edition of the Tax code duties not subject parcels with a total value of €150 from the same sender without limits.

Director General «Ukrpochta» Igor smilanski said that the decision by the Verkhovna Rada decision to restrict the import of goods and parcels from abroad is controversial and may not produce the result.

Poroshenko signed amendments to the Tax and Budget codes of Ukraine 31.12.2017

Декабрь 31st, 2017 by
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