21/ 06/ 2013

On 21 June 2013 the Law on Amending Transition Provisions of the Law on Amending Certain Legal Acts Due to Adoption of the Tax Code as for the Postponement of Terms of Liability for Not Submitting Accounting Documents in Electronic Form (Draft Law No. 2087а-1) was adopted by the Parliament.

All EBA members welcome this legislative development as a very important step towards smooth functioning of business activities in our country. In case this Draft had not been adopted, starting from 1 July 2013 business entities would be penalised for 10 non-taxed minimums of income.

The EBA has forwarded two letters to the Ministry of Incomes and Fees, Prime Minister, Peoples’ Deputies and other state authorities. Also there was an open letter (press release) issued by the EBA to draw public attention to this question.

In our appeals we have pointed out that suggested terms for implementation of tax accounting via registrars of operations (RRO) were very short and companies had no time to purchase the respective equipment, test it and launch smooth data sharing.

We also voiced our concerns at recent Parliamentary hearings organised by the Committee on Entrepreneurship, Regulatory and Antimonopoly Policy (Chaired by Oleksandra Kuzhel).

The EBA would like to extend its gratitude to all involved state authorities who heard the concerns of the business community and enabled postponement of this provision.

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