fbpx
Size of letters 1x
Site color
Image
Additionally
Line height
Letter spacing
Font
Embedded items (videos, maps, etc.)
 

The EBA discussed legislative work of the Verkhovna Rada Committee on Finance, Tax, and Customs Policy with Danylo Hetmantsev

16/ 01/ 2025
  On January 13, members of the European Business Association met with Danylo Hetmantsev, Chair of the Verkhovna Rada of Ukraine’s Committee on Finance, Tax, and Customs Policy, to discuss the outcomes of last year’s work and plans for 2025. The Committee Chair informed businesses that significant legislative progress was made in 2024 in the mentioned areas. Key achievements included restarting the Economic Security Bureau and the State Customs Service, improving online communication with taxpayers, updating legislation on excisable goods, regulating the financial services market, organizing the gambling market (liquidation of the Gambling and Lottery Regulatory Commission), supporting the de-shadowing of the grain and alcohol markets, and simplifying the import of energy-generating equipment and defense-related goods. Moreover, the Verkhovna Rada adopted a resource law to increase taxes for financing the defense forces and launched the High-Level Tax Trust Territory initiative. Some EU integration reforms were also implemented, such as the incorporation of provisions from the EU Customs Code, among other legislative initiatives. Danylo Hetmantsev noted that the Committee’s legislative work in 2025 might be complicated by political uncertainty and the Verkhovna Rada’s low capacity to make decisions on controversial issues. Despite this, the Committee plans to focus on initiatives to enhance the exchange of tax information with the EU (EU Directive DAC-7), implement ATAD and GAAR rules, update legislation on virtual assets, and introduce KPIs to evaluate the efficiency of tax and customs authorities. Additionally, the Committee plans to work on improving legislation concerning controlled foreign companies (CFCs), updating provisions for introducing e-audit (draft laws No. 6255 and No. 6256 will not be considered in their current form), and legislation on factoring, credit history, insurance for war risks, and more. Hetmantsev also announced that if e-audit software testing is successful, large taxpayers will be required to submit information in SAF-T format starting in 2026, with VAT payers following in 2027. In the meantime, all interested businesses can sign a memorandum with the State Tax Service to participate in the testing of this system. Business representatives seized the opportunity to engage in dialogue with Mr. Hetmantsev, raising pressing issues. Topics included the need for the Verkhovna Rada to ratify the Pan-Euro-Med Convention’s Transitional Provisions, which the EU implemented in late December 2024. The realistic timeline for this decision affecting Ukrainian businesses is early to mid-February or later. Until then, companies that relied on the old preferential rules of origin cannot use them. Participants also discussed continuing the fight against the shadow economy, special taxation for businesses in frontline regions, taxation of international parcels valued at up to €150, aligning roaming taxation with EU norms, criteria for determining employment relationships, proposed changes for the High-Level Tax Trust Territory for the IT sector, and other issues. We are grateful to Danylo Hetmantsev for maintaining an ongoing dialogue and addressing the concerns of law-abiding businesses.

On January 13, members of the European Business Association met with Danylo Hetmantsev, Chair of the Verkhovna Rada of Ukraine’s Committee on Finance, Tax, and Customs Policy, to discuss the outcomes of last year’s work and plans for 2025.

The Committee Chair informed businesses that significant legislative progress was made in 2024 in the mentioned areas. Key achievements included restarting the Economic Security Bureau and the State Customs Service, improving online communication with taxpayers, updating legislation on excisable goods, regulating the financial services market, organizing the gambling market (liquidation of the Gambling and Lottery Regulatory Commission), supporting the de-shadowing of the grain and alcohol markets, and simplifying the import of energy-generating equipment and defense-related goods.

Moreover, the Verkhovna Rada adopted a resource law to increase taxes for financing the defense forces and launched the “High-Level Tax Trust Territory” initiative. Some EU integration reforms were also implemented, such as the incorporation of provisions from the EU Customs Code, among other legislative initiatives.

Danylo Hetmantsev noted that the Committee’s legislative work in 2025 might be complicated by political uncertainty and the Verkhovna Rada’s low capacity to make decisions on controversial issues. Despite this, the Committee plans to focus on initiatives to enhance the exchange of tax information with the EU (EU Directive DAC-7), implement ATAD and GAAR rules, update legislation on virtual assets, and introduce KPIs to evaluate the efficiency of tax and customs authorities.

Additionally, the Committee plans to work on improving legislation concerning controlled foreign companies (CFCs), updating provisions for introducing e-audit (draft laws No. 6255 and No. 6256 will not be considered in their current form), and legislation on factoring, credit history, insurance for war risks, and more. Hetmantsev also announced that if e-audit software testing is successful, large taxpayers will be required to submit information in SAF-T format starting in 2026, with VAT payers following in 2027. In the meantime, all interested businesses can sign a memorandum with the State Tax Service to participate in the testing of this system.

Business representatives seized the opportunity to engage in dialogue with Mr. Hetmantsev, raising pressing issues. Topics included the need for the Verkhovna Rada to ratify the Pan-Euro-Med Convention’s Transitional Provisions, which the EU implemented in late December 2024. The realistic timeline for this decision affecting Ukrainian businesses is early to mid-February or later. Until then, companies that relied on the old preferential rules of origin cannot use them. Participants also discussed continuing the fight against the shadow economy, special taxation for businesses in frontline regions, taxation of international parcels valued at up to €150, aligning roaming taxation with EU norms, criteria for determining employment relationships, proposed changes for the High-Level Tax Trust Territory for the IT sector, and other issues.

We are grateful to Danylo Hetmantsev for maintaining an ongoing dialogue and addressing the concerns of law-abiding businesses.

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Start
in the Telegram bot
Read articles. Share in social networks

Spelling error report

The following text will be sent to our editors: