The Cabinet of Ministers will soon submit a single tax bill to the Verkhovna Rada, according to media reports
19 March 13:11
The Cabinet of Ministers plans to submit a single bill to the Verkhovna Rada in the coming days, containing all the tax and customs changes required to meet the conditions of the IMF loan.
A government source told RBC-Ukraine about this, according to "Komersant Ukrainian".
It is noted that the bill will combine the initiative to introduce VAT for sole proprietors, taxation of online platforms, and duties on all parcels from abroad, as well as the extension of the military levy into the post-war period.
“The bill is already ready and will be submitted to the Cabinet of Ministers for consideration in the coming days,” the source told the publication.
A single tax bill
As a reminder, in February, the International Monetary Fund lifted the prior actions for Ukraine’s new $8.1 billion loan program. These prior actions included requirements regarding VAT for sole proprietors, customs duties on parcels, a tax on digital platforms, and the military levy.
At the same time, Ukrainian Prime Minister Yulia Svyrydenko stated that all tax and customs changes removed from the “prior actions” category will become structural benchmarks that must be met for the next program review.
To this end, the draft laws on digital platforms, parcel taxation, the extension of the 5% military levy, and the introduction of VAT for sole proprietors will be consolidated into a single comprehensive bill (the “Beautiful Tax Bill”).
Regarding VAT for sole proprietors, an agreement has been reached to raise the threshold for its application from 1 million to 4 million hryvnias. Thus, it will affect not 660,000 small business owners, but 257,000.
The new Beautiful Tax Bill is expected to be adopted as early as March. However, according to the prime minister, there are currently not enough votes in the Rada to pass it.
