The bill (Reg. No6337), directed by the Cabinet of Ministers, suggests the introduction of the amendments to certain legislative acts on issues regarding the taxation with the aim to increase the taxes and charges income (compulsory payments) to the budgets.
In the course of the discussion, the Committee members expressed number of remarks that are to be taken into the consideration after its elaboration for the second reading.
The Bill also suggests a number of the amendments to the excise legislation, in particular the increase of the excise duty through the implementation of the amendments to the following Laws: "On Excise Duty on Alcohol Beverages and Tobacco Goods", "On Excise Duty Rates and Entrance Duty on Certain Types of Goods (Production)"; "On Excise Duty Rates on Ethyl Alcohol and Alcohol Beverages", "On Excise Duty Rates on Tobacco Goods."
The Committee members uphold the increase of excise duty rates on motor petrol, special petrol and other light distillates. Though, Serhii Teriokhin, the Chairman of the Committee emphasised that it is impossible to agree with the suggested increase of the excise duty rates on bear, as it (together with the considerable increase of the charge on special water use) will cause the increase of the production cost price reduction of competitive ability of the national bear producers etc.
The Committee also fails to uphold the governmental proposition regarding the increase of the excise duty rate on pear cider and cider.
The Bill also suggests a number of the amendments to the Law "On Value-Added Tax." According to the document, the tax payer together with the payment of excise duty is obliged from 1 January 2011 pay advance tax instalment at the rate 20 per cent from the excise duty sum. The People´s Deputies deem that such proposition is economically and juridical groundless.
The Bill introduces the amendments to the item 7.3 of the Law "On Enterprise Income Tax" regarding the operation with calculation in foreign currency in the part of the taxation of exchange difference. Suggested amendments, according to S. Teriokhin, "discriminate foreign currency credit debtors and give privileges to creditors."
The Government also suggests the enterprise with income according to the finance reporting for the previous year comprising UAH 100 million and more to submit the annual finance reporting together with the Income Declaration.
In the course of the discussion, the Committee Members expressed a number of other remarks regarding the bill.