The Cabinet of Ministers of Ukraine adopted a draft law that, starting July 1, 2023, returns enterprises to the taxation system that has operated before the introduction of the preferential regime of 2%, and renews documentary check-ups of businesses.

In particular, it refers to the cancellation of the possibility for physical entrepreneurs and legal entities to be taxpayers of the single  tax of group III with the application of the uniform tax rate of 2% of the amount of income and the voluntary principle of payment of the single tax by physical entrepreneurs - payers of the uniform tax of groups I and II.

Besides this, the draft law cancels the norms regarding the suspension of document check-ups and at the same time returns the application of fines for violations of tax legislation, the correctness of charges, calculation and payment of a single contribution to compulsory state social insurance. 

Fines are returned for violation of the procedure for using transaction operations recorders/software operations transaction recorders.

The cancellation of preferential tax conditions for physical entrepreneurs and legal entities will allow to additionally attract about 8 billion UAH to the budgets in 2023.

Reference source: http://bit.ly/40enIMs