The Verkhovna Rada adopted amendments to Tax code

The Verkhovna Rada adopted amendments to the Tax code that amount to a compromise between the proposals of the government and Parliament on tax changes, necessary for the execution of the revenue part of the draft state budget for 2016.

For the corresponding bill No. 3688 on amendments to the Tax code on Thursday, December 24, voted 251 MP when required 226.

Rada has changed the procedure of VAT reimbursement, and approved the tax compromise for farmers
Glad increased spending of state budget for 2015 on 14 billion for pension payment in January 2016
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Rada endorsed the government law for the optimization of social spending

The draft law, in particular, include amendments in respect of value added tax: the improvement of the procedure of VAT refund from the budget, which will provide the same claims and rights for all taxpayers, taking into account the order of submission of applications by taxpayers for a VAT refund; the introduction of official publication of information on the VAT refund from the budget in the form of a register reflecting data of a taxpayer, declared to compensation from the budget of tax amounts and the status of their refund.

In addition, we introduce two types of rosters. One for those with exports greater than 40%, the second — for other exporters. This norm will come into force on 1 February 2016.

Excise taxes — specific excise tax rates on tobacco products, tobacco and industrial tobacco substitutes, as well as the minimum excise tax burden and payment of excise tax on tobacco products increase by 40 per cent, ad valorem rate remains unchanged. It is expected to increase rates on alcohol, alcoholic distillates and alcoholic beverages are against the current by 50%, on beer — 100% at fault 100%. Enter the rate of excise tax on alcoholic beverages (alcohol content from 0.5 to 8%) in the amount of 211,59 UAH/1 liter of absolute alcohol.

The document also proposed the establishment of a unified basic rate of income tax to 18% (instead of the two existing rates of 15% and 20%); for dividends remains a rate of 5%; the exemption from taxation of the sums of money provided to the taxpayer international financial institution in connection with the implementation of energy efficiency measures and energy saving; exemption from taxation on the amounts forgiven (cancelled) by the lender on loans in foreign currency to purchase a single housing (mortgage loans).

To simplify the tax system provides for the following changes: reduction for taxpayers of group III of the annual revenue from 20 million to 5 million; increase in rates for taxpayers in group III: with 2 to 3% (for VAT payers) and 4 to 5% (for non-payers of VAT); the increase in 1,8 times rates of single tax for 4 groups of payers (farms) the repeal in 2016 the application of the indexation rate of normative monetary valuation of land for determining the tax base for single tax payers of the fourth group.

The draft law sets such innovations relative to excise tax: the introduction of electronic administration implementation of fuel: the introduction of excise invoice, as required electronic document that will be prepared during the implementation of all operations on the sale of fuel on the domestic market; prevention of implementation on stations of the unaccounted volumes of fuel, of which not paid the excise tax.

It is also proposed to make a number of amendments to the law «On collecting and accounting a single fee for obligatory state social insurance», which provides:

— The establishment of the uniform rate of ERUs in the amount of 22%;

— Increasing the maximum base value for the calculation of ERUs from 17 to 25 minimum monthly wages;

— Cancellation of ERUs, which is withheld from the wages (income) of employees (natural persons).

As reported, today the Verkhovna Rada has extended its work until the adoption of the state budget for 2016. This decision was made during the fourth vote. So, today, 24 December the Council is preparing to adopt the state budget for the next year and changes to the Tax code. These initiatives will also be finalized in January.

Note that the concern about the situation around the parliamentary adoption of the budget for 2016 and tax reform, have already expressed the national Bank of Ukraine, the international monetary Fund and the ambassadors of the countries «Big seven».

We will remind, except «Fatherland» and «Samopomich», to vote for the initiatives of the Cabinet of Ministers also refused Radical party.




The Verkhovna Rada adopted amendments to Tax code 24.12.2015

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