The bill (Reg. No. 1141) suggests canceling the system of electronic administration of VAT, amending the Laws "On amendments to the Tax Code of Ukraine and several laws of Ukraine" and "On amendments to the Tax Code of Ukraine re improving taxation of investment activity".
The Committee members claimed that the system of electronic administration of VAT will lead to constant diversion of floating assets from economic entities which can cause their bankruptcy.
MPs stated that the system of electronic administration of VAT will require significant additional labour and technical resources.
During the discussion, people's deputies of Ukraine voiced several remarks to the system of electronic administration of VAT and stressed the necessity to cancel this system at the present stage.
On the other hand, the Committee members claim the need to improve administration of the VAT.
It was suggested to create a working group from among MPs, representatives of the Ministry of Finance, State Fiscal Service of Ukraine, and public representatives.