The Committee supported the law on value derived capital

Комитет Рады поддержал закон о налоге на выведенный капиатал

The Committee supported the bill on the tax on the capital

The Committee on taxation and customs policy recommended the Parliament to support the bill on the tax on the capital.

The parliamentary Committee recommended that the Verkhovna Rada adopt as a basis the bill on the tax on the capital. The decision adopted by the Verkhovna Rada Committee on taxation and customs policy at a meeting Wednesday 10 April, reports RBC-Ukraine.

It is noted that the bill was introduced to Parliament on 5 July 2018. It was initiated by the President of Ukraine Petro Poroshenko.

“To recommend to the Verkhovna Rada a draft law on amendments to the Tax code of Ukraine concerning the tax on the capital be taken as a basis”, – is spoken in the message.

According to the explanatory Memorandum, the bill provided for the introduction of new rules taxation of profits of enterprises will simplify doing business and reduce costs of taxpayers to comply with tax debt.

It is also stated that the bill will create an incentive for attracting investments in the Ukrainian economy.

Earlier the President of Ukraine Petro Poroshenko said that the Parliament should adopt the law on the tax on the capital before the elections of the Verkhovna Rada in the fall of 2019. According to the head of the state, this bill has the support of business associations.

We will remind, the Ministry of Finance warned that the introduction of a tax on the capital instead of profit tax may lead to default, as it will leave Ukraine without an International monetary Fund programme.

 

 

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