Taxes on business in the East: 2017
It is no secret that recently the government has been working on the tax system in order to improve investment climate in Ukraine. A part of the draft included points on taxation in the temporarily occupied regions of Ukraine, which were later on passed as laws. For example, it is not required to pay property or land tax located in the occupied regions.
This issue has been under question ever since the beginning of ATO and the companies in that region had to pay their tax for some period of time, however now that the law has been passed, any taxes that were paid after the 14th of April 2014, are to be taken into account in the payments made in future.
According to Law No. 1789, the money that has been paid to the budget which shouldn’t have been is to be returned to the firms in the regions where the Ukrainian governmental bodies are currently not carrying out their functions. However, it is not yet clear, how this law is going to be implemented.
In addition to the points mentioned above, the ban on conducting inspections for companies that have carried on their business in some districts of Donetsk and Luhansk regions is a very important step. The importance of this law originates from the fact that some documents would have been lost or destroyed, therefore making the inspections ineffective. Overall, the changes brought into the tax system in the past year will hopefully help the entrepreneurs secure their businesses.
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