On 5 November 2018, the Cabinet of Ministers of Ukraine submitted to the Verkhovna Rada of Ukraine a draft law “On Amendments to the Tax Code of Ukraine and Some Other Legislative Acts of Ukraine on Improving the Administration and Revision of the Rates of Certain Taxes and Duties” (No. 9260). And on 8 November, the deputies adopted the draft law in the first reading. Project norms offer a number of changes, which, if approved, will have an impact on budget revenues in 2019 and subsequent budget periods.
The experts of the Financial Monitoring Group of the Central Reform Office under MinRegion have analysed the draft law and focused on its certain provisions primarily related to local budgets.
Therefore, in case draft law No. 9260 is adopted the taxpayers will have to adapt their business activity, financial and tax reporting processes to new requirements, and local self-government bodies will have a potential increase in revenues and will need to further search for the ways to exercise effective control over the completeness of the required payments to local budgets.
The materials are prepared by the experts of Financial Monitoring Group of the Central Reform Office under MinRegion (with the support of the U-LEAD with Europe Programme): Yanina Kazyuk, financial decentralisation coordinator; Viktor Ventsel, financial monitoring expert.
The full version is available in Ukrainian – please click HERE
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