The Committee on Taxation and Customs Policy discussed preparation for the second reading of the draft law on amendments to the Tax Code of Ukraine re peculiarities of specifying tax liabilities for corporate income tax and value added tax in case of applying tax compromise

Information Department of the Verkhovna Rada of Ukraine Secretariat
25 June 2014, 14:34

The people’s deputies, representatives of the business and the government participated in the meeting. 

“We should discuss and elaborate the idea of a tax compromise with the business in order to efficiently implement it,” noted the Committee Chair Vitalii Khomutynnik. 

Deputy Finance Minister Denys Fudashkin informed that due to implementation of tax compromise procedure, the state budget can receive UAH 10 bln till the end of the year.  

At the same time, representatives of the business expressed concern about implementation of the mechanism of tax compromise. Some of them are convinced that the initiative will have zero effect on the state budget.

It was noted that several issues need to be discussed in detail.

Additional information: The Parliament adopted the bill Reg. No. 4930 as a basis on June 19, this year. The document aims at improving tax system and increasing the revenue part of the budgets.