Telegram 
Viber 
Whatsapp 
Messenger Changes to Legislation 2013
In 2013 the laws and regulatory documents adopted in 2012 come into force. The new additions aim to improve …
A number of legislative changes come into force in the new year 2013
In 2013 the laws and regulatory documents adopted in 2012 come into force. The new additions aim to improve the business environment. From January 1, 2013, a law comes into force that allows reducing the corporate profit tax rate to 19%. Subsequently, this rate will be gradually reduced to 16% in 2014.
From 2013, preferential “holidays” of 10 years have been declared for the software sector, which will pay 5% profit tax. All supplies of software are also exempt from VAT. However, when recognizing an entrepreneur as an entity of the software sector, one should take into account that there is a discrepancy between the Law of Ukraine “On Copyright and Related Rights” and the Tax Code.
From January 16, 2012, changes took place in the procedure for accounting (registration and deregistration) of entrepreneurs who pay the single tax at the institutions of the Pension Fund of Ukraine.
Individual entrepreneurs who have employed workers and have received a notification from the employment center about the registration of an employment contract have the right to receive a notification “on the establishment of the class of occupational risk of production” the next day.
Also, single-tax paying entrepreneurs have the opportunity, within ten days from the day of receiving the notification about the establishment of the risk class from the Pension Fund authorities, to apply to the Social Insurance Fund if they disagree with the established class of occupational risk of production. Clearly defined timeframes make it possible to speed up the documentation process.
As for the fifth and sixth tax groups, the employment limit for hired workers was abolished. Also, the single tax rate was reduced from 7% to 5% for VAT payers; if you do not pay VAT, the reduction will be from 10% to 7%.
From January 1, 2013, income from transactions (sales, exchanges) involving vehicles is not taxed. If the number of recorded transactions in the taxable year is more than one, then the tax will be 5% of the vehicle’s value. This value is determined either by the sale-purchase agreement or by the average market value of the vehicle.