V.Khomutynnik, Committee Chairman, opened the
meeting. He stated that adjusting the bill to the second reading, the Committee
received 4400 proposals.
The Committee members discussed the fundamental provisions of the Tax Code, namely, the chapters concerning administration of taxes and duties (compulsory charges); the tax on income of enterprises; the individual income tax; the value added tax; special tax treatments; taxation of the tax payers under the production distribution agreements; final and transitional provisions.
The bill (Reg. No. 7101-1) sets
the fundamentals of the tax system, lists the taxes and duties (compulsory charges) to be
paid to the budgets of all levels. The bill also offers the methodology of
their calculation; fixes the tax rates; determines the legal status of the tax
payers, the procedure of tax administration and appeal against the resolutions
of the monitoring agencies, as well as terms and conditions of imposing
financial penalties on the tax payers for the violation of tax legislation.
The bill regulates special tax treatments (a system of actions specifying the special tax treatment of business entities) established and applied exclusively in compliance with the Tax Code.
Under the bill, tax control is a system of actions taken by the supervisory bodies to control the correctness of calculation, full and timely payment of taxes and duties, and observance of legislation on payment operations, patents, and licensing, and other relevant legislation.
The originals of primary financial-economic, accounting and other documents shall not be suppressed, unless envisaged by the criminal procedural legislation within the investigation of a criminal case.
The bill sets the requirements for the registration of the value added tax payers. If the persons non registered as the VAT payers import the goods to the territory of Ukraine for the sum subject to taxation, these persons pay the tax during the customs clearance without being registered as the VAT payers.
The draft Tax Code regulates the simplified tax system, the registration and accountability of the small business entities.
The Committee members expressed several remarks to be included into the comparison table.