At its regular meeting, the Committee eyed the draft law No. 2896 on introduction of amendments into some Laws of Ukraine as to the data on end-beneficiary owner (controller) of a legal entity.
The draft law is aimed at settlement of the problem as to Form No. 4 entrepreneurs are now facing.
In compliance with effective law before May 26, they will have to submit data on end-beneficiary owner (controller) of a legal entity. Over 1,100,000 entrepreneurs are risking to get stuck in long queues or face a fine of UAH 8,500 in case of untimely passing of the procedure.
The adoption of the draft law will eliminate tension and lower justified concerns of entrepreneurs and legal entities; lower the risks of corruption; protect disciplined entrepreneurs; ensure effective use of working hours of state registrars and economic entities.