Tax reform strategy in Ukraine

Tax reform strategy in Ukraine

D. A. Getmantsev, Chairman of the relevant parliamentary committee, member of the parliament from “Servant of the People” PP, mentioned the main provisions of the planned tax reform in Ukraine. Among them are:

  1. reduction of the tax burden in 2020 (reduction of tax rates on personal income tax and social security tax) on the wage fund,
  2. the introduction of an obligation for the state to pay the taxpayer compensation for illegal actions of the tax authorities,
  3. the creation of the Appeal Board under the Ministry of Finance, the Ministry of Economy or the State Regulatory Service,
  4. the introduction of BEPS and transfer pricing reporting since 2021,
  5. the introduction of reporting for controlled foreign companies and the authority, on the initiative of the tax authorities, to register CFCs and accrue tax liabilities, from 2021,
  6. the introduction of tax on withdrawn capital from 2021,
  7. exclusion of legal entities from the single taxpayers,
  8. in the long term, the introduction of universal declaration of individuals.