On March 15, the Verkhovna Rada supported as a basis and in general the Law “On Amendments to the Tax Code and Other Legislative Acts Concerning the Effect of Norms for the Period of Martial Law” (Bill №7137-d).
In particular, the Law provides for:
- opportunities for individuals-entrepreneurs and legal entities with a turnover of up to UAH 10 billion to pay a single turnover tax of 2% according to the rules established for the 3rd group of single tax payers, ie with exemption from income tax, VAT and other payments;
for natural persons-entrepreneurs of the 1st and 2nd groups the payment of the single tax is voluntary;
- determination of the peculiarities of accrual of certain taxes and fees under martial law, in particular SSC, land fees, environmental tax;
- reduction of VAT to 7% and exemption from excise duty on fuel;
- it is allowed to include in the VAT tax credit the amounts for which tax invoices have not yet been registered, but the necessary primary documents are available. Such invoices must be registered within 6 months from the end of martial law;
- release of consumers from liability to the lender for delay in fulfillment of obligations under the consumer loan agreement;
exemption from personal income tax assistance to victims of Russian military aggression;
for the period of martial law for banks, other financial institutions and supervisory authorities, the deadlines set for sending a notice of opening or closing an account and notifications of account registration or refusal to register an account by the supervisory authority shall be suspended;
granted the right to a tax rebate of 16% (instead of 4% now) for donations to non-profit organizations; suspension of the rules that gave the mortgagee the right to evict its residents from the mortgage housing, acquire ownership of the mortgage, or sell it.
The full text of the Law can be found at https://bit.ly/3JiMxxI