The bill (Reg. No.7364) envisages voluntary participation of sole
proprietors who opted for a simplified tax system in the system of the compulsory state social
insurance.
Namely, it excludes sole proprietors who opted for a simplified tax system and their family members performing common business activity from the compulsory fee payers.
To encourage sole proprietors who opted for a simplified tax system to take part in the system of the compulsory state social insurance, in case of the voluntary participation payment to the solidary system of the state pension insurance, the length of business activity shall be added to the length of the pensionable service, in proportion to the sum of fee relative to the minimal rate of the insurance contributions.
According to the Committee members, adoption of the Law will promote development of the small business.