The Ministry of Finance to publish the preliminary draft of the amendments to the Tax Code for one more public discussion

9/23/16

The Ministry of Finance is going to publish the preliminary draft of the amendments to the tax legislation. This draft is now being actively discussed with public experts and representatives of international and Ukrainian business associations; simultaneously with that, the Ministry of Finance is processing received remarks and proposals.

The draft was developed by a working group consisting of representatives of business, the Ministry of Finance, the SFS as well as MPs and public experts. The draft is planned to be submitted to the Cabinet of Ministers and to the Parliament soon.

The Ministry of Finance published the preliminary draft on August 9 to receive feedback from the public. Also, on September 7, Minister of Finance Oleksandr Danyliuk presented the amended draft based on proposals from all stakeholders at the Parliamentary Committee for customs and tax policy. Having received the new proposals, the Ministry of Finance presented the amended working draft to public experts on September 20. This version was actively supported by the US Chamber of Commerce, the All-Ukrainian Association of Small and Medium-Sized Business “Fortezya”, the European Business Association, the Association of Ukrainian Entrepreneurs as well as by the experts of the Reanimation Package of Reforms uniting a number of leading research centers and civil organizations.

This list of stakeholders is not complete, since the Ministry of Finance is still holding meetings with interested parties to discuss the proposed amendments.

We are still absolutely open for a dialogue and invite everyone to look into the latest updates of the working draft as well as to send proposals and comments till September 30 to kruglyak@minfin.gov.ua.

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