Small businesses may get two-year tax holidays – government program

Tuesday, December 9, 2014 - 18:58 (EET) Section: Latest news

A government action program foresees two-year tax holidays for small and medium businesses and reduction of a single tax.
Prime Minister Arseniy Yatseniuk said this, while presenting the government action program in Kyiv on Tuesday, an Ukrinform correspondent reported.
“We offer two simple solutions. The first solution is to halve the single tax for small and medium businesses, and the second solution is not to touch and check them for two years,” Yatseniuk said.
He added that the Cabinet would table in parliament a bill envisaging that at the first stage entrepreneurs fill the so-called zero tax declarations and at the second stage they are transferred to a uniform income declaration system.
“As part of our new economic policy, the government will propose that the parliament adopt a law on tax compromise. This means the introduction of zero tax declarations. Everyone should declare and show what he owns. This is our start. After this the government considers it necessary to introduce a uniform income declaration system,” he said.
According to Yatseniuk, this will allow to fight corruption and uphold the principle of equity in income distribution and taxation, and also it complies with European and international standards.