News 2 - The Committee on Taxation and Customs Policy recommends that the Parliament adopts as a Basis the Bill on Amendments to the Law "On Value Added Tax" (re Value Added Tax Payers' submitting the Copies of Entries in the Registers of Received and Issued Tax Invoices to the State Tax Office) - Verkhovna Rada of Ukraine

The Committee on Taxation and Customs Policy recommends that the Parliament adopts as a Basis the Bill on Amendments to the Law "On Value Added Tax" (re Value Added Tax Payers' submitting the Copies of Entries in the Registers of Received and Issued Tax Invoices to the State Tax Office)

Published on 04 March 2008, at 16:55

The Bill (Reg. No.1482) was elaborated "to enhance the procedure of payment and compensation of value added tax and to prevent possible abuse". Thus, the taxpayers are to submit the copies of entries in the registers of received and issued tax invoices to the tax office bodies: in digital form (in case the rate of taxed operations for 10 months exceeds 1 mln. Hryvnias) and in document form, provided the rate of taxed operations is lower.

Discussing the introduced amendments, the People´s Deputies underscored the importance of "a transitional period for introduction of digital system of VAT management in order to minimize possible threats and increase benefits from the said introduction".

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