17.11.2010 10:02

First day of tax passions: what Parliament did?


As reported MIGnews.com.ua, on Tuesday, November 16, to the accompaniment of thousands of angry people which are involved in small-and medium-sized business the Verkhovna Rada of Ukraine considered the second reading of the Tax Code in the edition of the Cabinet of Ministers of Ukraine. Within one day the MPs considered more than half of the amendments to the draft Tax Code and considered 5 of 19 sections of the document.

In particular, more than 600 amendments were considered in the first section of "General Regulations", more than 500 amendments were considered in the second section "Tax administering”, more than 750 amendments were considered in the third section "Tax on profit of business”, more than 500 amendments were considered in the fourth section “Tax on incomes of individual persons, and about 500 amendments were considered in the fifth section - "Value Added Tax." In total MPs submitted 4,879 amendments to the draft Tax Code. MPs voted 211 out of 340 articles of the document.

Finance Minister Feodor Yaroshenko asked parliamentarians to adopt the problematic regulations in the edition of the profile committee in order to be able to find a compromise until Thursday and again to consider these issues in the session hall.

In particular, MPs considered also the amendments to section ІI of the draft Tax Code, "Administering of taxes and duties (mandatory payments)." Parliament adopted the Article 75 of Chapter 5-3 of Section II of the Tax Code "Administering of taxes and duties (mandatory payments), which provides unscheduled and actual verifications by the State Tax Service of Ukraine. Article 75 of the draft Tax Code states that organs of state tax service are entitled to carry out office, the documentary (scheduled or unscheduled, field check or not) and the actual checkup.

During the session, MPs also adopted Article 94 of Chapter 5-3 of Section II of the Tax Code, "Administering of taxes and duties (mandatory payments)”, which provides for the arrest of the taxpayer’s property.

In addition, the MPs remained the norm on taxation of deposits in the draft Tax Code. The majority did not approve some amendments of MPs from the opposition, who offered to give up taxation on deposits in banks or credit institutions.

In addition, the Verkhovna Rada of Ukraine left second-hand dealer at the simplified tax system.

The Parliament also expanded the scale of taxation on incomes of individual persons by supplementing the current flat rate 15 percents of small-progressive rate 17 percents for incomes exceeding ten times the minimum wage established by law as of January 1 of the tax year. At the same time the proposal was left for a preferential tax rate of 10 percents of wages of miners and mines construction companies.

In addition, parliament leveled the terms of taxation on dividends (current rate is – 15 percents) and interest by imposing the same tax rate of 5 percents interest of deposits. At the same time, the document envisages the introduction of taxation of interest on deposits at a specified rate beginning from 2015.

Parliament also voted in the second reading for reducing the basic rate of income tax from 25 percents to 16 percents.

In addition, the parliament voted for the amendment submitted by the head of profile committee Vitalii Khomutynnyk regarding tax holidays up to January 1, 2016 for small business with annual turnover of 3 million UAH. According to the amendments, in the case of calculation and payment of dividends by its owner, these companies lose the right to a zero tax on income and pay it at the basic rate.

On Thursday, November 18, parliament will begin work at 10:00 am considering the sixth section - "Excise tax". Based on materials of Liga, Interfax-Ukraine, RBC-Ukraine

Read also:

Parliament considers Tax Code, mass protests are being held in Ukraine (updated at 05:50 pm) VIDEO, PHOTOS





Теги материала: Ukraine, parliament, opposition, business, Verkhovna Rada, MP
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