The Bill (Reg. No.3075) enhances regulations of the tax legislation, and creates conditions for redistribution of tax load on the payroll fund between the hired employees and employers, reduction of its general level and enhancement of tax administration.
Thus, the payments to the Pension Fund from the wages of hired employees increase from 2% to 5%. Accordingly, the payments of employees decrease from 33,2% to 30%.
Pursuant to the Bill, "all enterprises and organizations irregardless of the form of ownership should raise the wages of employees in the amount sufficient to recover extra expenditures for payments to the Pension Fund of Ukraine".
Adoption of the Bill "should secure permanent replenishment of the State budget revenue in the current and following years, facilitate re-shadowing of economy, and coordinate tax regulations before the Tax Code is adopted".