Scandalous tax law number 1210 prepares edits: what will change


Awaiting registration of a bill in Parliament with several amendments to the European Trade Union Act No. 1210

The European Trade Union (EBA) is awaiting the registration of a Bill in Parliament with amendments to Law 466-IV on amendments to the Tax Code regarding tax administration reform (No. 1210) in the near future. It was announced by the union’s executive director Anna Derevianko.

According to him, this week saw the fourth meeting of the Working Group on finalizing the amendments to the tax code held in the President’s Office in Law Code 466, which was attended by representatives of the EBA.

The bill would offer delays in enforcing the rules for the taxation of income from controlled foreign companies (CFCs), one of the rules for non-residents to act as tax agents for transactions with certain investment assets. A transitional period for disobeying and enforcing many other rules.

Anna Derevianko
Executive Director of European Trade Union

As expected, the new bill would clarify that the tax adjustment for penalties and fines for violations of the law does not apply until the penalty specified by the taxpayer has been paid. The issue of registering new excuses for entities to use for their own consumption in technical processes was also agreed upon.

However, according to Derevianko, several proposals from the business community to support trade during the economic crisis caused by coronovirus were left without special consideration – to reduce the burden on wage funds.

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On 21 May, the President of Ukraine signed legislation on January 16, 2020 amending the tax code number 1210 adopted by Verkhovna Rada, sparking heated debate. Many entrepreneurs and experts are sure that the law will give an irreparable blow to business in Ukraine. Read more about what innovations are prescribed in the law – read in our content.

Read: Free from fines on Ukrainian trade credit

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According to the content “Economic reality”


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