Streamlining Document Workflow for Businesses: The President Has Signed the Law
17 March 15:30
The President of Ukraine has signed a law simplifying the preparation of source documents for the provision of services. This was reported by the press service of the Verkhovna Rada of Ukraine, according to [Komersant].
Volodymyr Zelenskyy signed the law “On Amending Article 9 of the Law of Ukraine ‘On Accounting and Financial Reporting in Ukraine’ Regarding the Simplification of the Preparation of Primary Documents for the Provision of Services” (No. 4791-IX).
The law aims to reduce the administrative burden on businesses by simplifying document flow. Specifically, it allows for the signature of only one person—the individual responsible for conducting the business transaction on behalf of the service provider—to be affixed to primary documents for the provision of services.
“According to the law, if the primary document contains information regarding the date (period) of the transaction, the absence of details such as the position, surname, and personal signature of the person responsible for carrying out such a business transaction on the part of the customer of the services (works) or the lessee (tenant) shall not be considered a violation of the requirements for the preparation of the primary document.”
This is possible provided that such a procedure for documenting business transactions is expressly provided for in a contract concluded in writing and the business transactions are reflected in the accounting records in the period of their occurrence.
At the same time, the Council notes that this provision does not apply to the requirements for documenting business transactions paid for with public funds.
“It also does not apply to business transactions carried out in fulfillment of contracts for the lease (rental) of state or municipal property, construction contracts and design and survey work contracts, or contracts for donations, charitable, or humanitarian aid.”
Danylo Getmantsev previously noted that businesses have repeatedly appealed to the Committee to review the requirements for preparing source documents.
“On the one hand, the preparation and submission of service reports fall on the shoulders of entrepreneurs, distracting them from their primary task—business operations. But on the other hand, the very act of signing service provision documents serves as a tool to protect the client’s interests. Therefore, it was important to allow business entities the right to choose the method of preparing primary documents that best meets the needs of a specific enterprise in terms of its business processes and contractual risks,” Getmantsev explained .
The parliamentary committee on finance, tax, and customs policy led the drafting of the relevant bill.
Earlier, on February 24, the Verkhovna Rada adopted a law abolishing the requirement for a second signature on primary accounting documents.
