NBU Cuts Discount Rate to 13%, e-Entrepreneur at Diia, Economic Booking

National Bank of Ukraine Cuts Discount Rate to 13%

Starting from 14 June 2024, the Board of the National Bank of Ukraine cut the discount rate from 13.5% to 13%.

Thus, the NBU continues the cycle of discount rate cuts that began in July last year.

Complex e-Entrepreneur Service Launched on Diia Portal

The Ministry of Justice announced this on 12 June.

Thus, the service, created to simplify doing business, will allow you to apply for the necessary services online with one application in just 15-40 minutes.

For both new and existing entrepreneurs, 10 services are available in one application, including:

  • State registration of a individual entrepreneur;
  • State registration of changes to the information about the individual entrepreneur in the Unified State Register;
  • Registration of a declaration of compliance of the material and technical base of a business entity with the requirements of fire safety legislation;
  • State registration of food market operators’ facilities;
  • State registration of the establishment of an LLC on the basis of a model charter;
  • State registration of the LLC’s transfer to activities based on the model charter;
  • Submission of vacancies;
  • Registration/ switching to the simplified taxation system;
  • Registration as a value added tax payer;
  • Opening a bank account.

The e-Entrepreneur service is available here.

Draft Law on “Economic Booking” Registered in the Parliament

On 11 June 2024, the Verkhovna Rada of Ukraine registered Draft Law No. 11331 dated 11.06.2024 “On Industrial Policy and Predictability of the Real Sector of the Economy”, which was submitted for consideration on 14 June.

Details:

  • The draft law proposes that the Parliament adopt a new law “On Industrial Policy and Predictability of the Real Sector of the Economy”, which aims to create conditions for the development of the domestic industrial complex in order to increase the competitiveness of domestic products in domestic and foreign markets and transition to an innovative model of industrial development;
  • The draft law proposes to amend Article 25 of the Law of Ukraine “On Mobilization Preparation and Mobilization”, thereby authorizing enterprises to book their employees in case they pay the increased rate of military duty – UAH 20 400.00 for each month for each individual employee. The amount of the increased military tax rate is specified in the related draft law No. 11332;
  • An individual entrepreneur and his/her employees are eligible for the booking if the income of the individual entrepreneur during a calendar month is at least UAH 61 200.00 and his/her business activity during the last year can be duly confirmed;
  • The draft law does not provide for a real possibility of booking from mobilization for unemployed citizens, since the increased military fee is paid not by the employee, but by the company itself. Thus, the employer determines who is most critical to him and confirms this in the form of tax payment;
  • All business entities, regardless of the type of business activity, number of employees, form of ownership, etc., will be entitled to book according to the above procedure.

We will follow any decision of the Parliament on the above draft laws.