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Businessmen receive more flexibility

Posted by the Editor on January 9, 2014


News / 9 January 2014 | 11:08

Businessmen receive more flexibility

Businessmen receive more flexibility

Government has lowered barriers for individuals who register as businessmen under the simplified taxation system. From beginning of 2014, they will be able to work without a certificate of single tax payer, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
From January 1, 2014, instead of the above certificate, a registered tax payer will be entitled to a free extract from Register of Single Tax Payers. The extract will be considered valid till modification of the Register. These innovations are provided in the Law of Ukraine No 657 dated Oct. 24, 2013 “On Amending Tax Code of Ukraine concerning the record and registration of taxpayers and improvement of certain provisions.”
Government experts say lowering administrative barriers for registration of business entities as single tax payers to the minimum is due to no need for contacting a state registrar or offices of revenue and duties.
The cancelled requirement to present a compulsory certificate reduces the number of documents between the taxpayer and offices of revenue and duties. Thus, the taxpayer is free to choose, as the extract from the Register is not mandatory – it may only be requested by the taxpayer. In fact, this decision helps save, as a single tax payer certificate is a document of strict accounting. Last year, about 1 million UAH were spent on them.

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