tax code of ukraine successful business - the well-being of the people
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TAX CODE OF TAX CODE OF UKRAINEUKRAINE
SUCCESSFUL BUSINESS - THE WELL-SUCCESSFUL BUSINESS - THE WELL-BEING BEING
OF THE PEOPLEOF THE PEOPLE
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Tax burden reduction
Innovative development of home economy
New jobs creating
TAX CODE OBJECTIVESTAX CODE OBJECTIVES
Increasing incomes of education and health employees, and retirees
starting 2011
Staring 1 January 2012 –
income increase by 1,5
BUSINESS PLAYERSBUSINESS PLAYERS
INDIVIDUAL SINGLE INDIVIDUAL SINGLE TAXTAX
SMALL SMALL BUSINESSBUSINESS
MEDIUM-SIZED AND MEDIUM-SIZED AND BIG BUSINESSBIG BUSINESS
VAT non-payersIncome tax – 0%
VAT payersIncome tax -
0% for 5 years
VAT payers
Income tax - 19%
Turnover under Hr 3 mln a year
Correction for inflation index
Turnover under Hr 300 thou a year
Correction for inflation index
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Step-by-step reduction of income tax rate
INCOME TAXINCOME TAX
2010 20142011 2012 2013
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Zero income tax rate for:- small business - 5 5 yearsyears- hotel business - 10 10 yearsyears- light industry - 10 10 yearsyears
Stop second-hand goods importation
Immunity from income taxation for assets aimed at modernization and innovative technologies
INCOME TAXINCOME TAX
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
VAT non-taxable subjects:
- scrap metal operations- grain crops operations- industrial crops (rape, sunflower) operations- timber operations
- legal services- consulting services- auditing services - single tax payers services
VAT – 17% from 1 January 2014 VAT – 17% from 1 January 2014
VALUE ADDED TAX (VAT)VALUE ADDED TAX (VAT)
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Аutomatic VAT recovery
Starting January 1, 2011 - the state liability for VAT delayed
recovery
FineFine – 120% – 120% NBU rate NBU rate
VALUE ADDED TAXVALUE ADDED TAX ( (VATVAT))
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
15% 15% for income under 10 minimum wages
17% 17% for income over 10 minimum wages
5% 5% on accrued income on accrued income for over Hr 200200 thou thou deposit
INDIVIDUAL INCOME TAXINDIVIDUAL INCOME TAX
Cabinet of Ministers of Ukraine – press conference of 3 September 2010
To be introduced:• single tax for individuals with annual income under Hr 300 thou• simplified accounting
TAX ACCOUNTING CANCELLEDTAX ACCOUNTING CANCELLED
SIMPLIFIED TAXATION SYSTEMSIMPLIFIED TAXATION SYSTEM
Simplified taxation NOT USED FOR:
• foreign economic activity • production of excisable goods
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Real estate tax
• non-taxable rate per person – 40 m2
or no less than 100 m2 in urban area and 200 m2 in rural area per family
• tax in case of excess
Hr 10/m2 a year
Cancelled:
• market charges• advertisement taxes• annual taxes on transportation owners
LOCAL TAXESLOCAL TAXES
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010
Allocation of environment tax returns:
To local budget 50%To state budget – 50%
Environment protection
Public healthcare
ENVIRONMENT TAXESENVIRONMENT TAXES
Cabinet of Ministers of Ukraine – press-conference of 3 September 2010