New Government’s measures to support the economy

Yesterday, on May 13, 2020 at an extraordinary sitting of the Verkhovna Rada of Ukraine, the deputies voted for the third package of measures to support the country’s economy.

What is provided by the bill №3329-D:

  • partial unemployment benefits are not taxed.
  • the term of applying for partial unemployment benefits has been increased from 30 to 90 calendar days
  • all sole proprietors on a single tax, self-employed persons (notaries, lawyers, etc.) and farmers from March to May inclusive, are exempt from paying SDRs for themselves
  • the deadline for filing complaints for administrative appeals against decisions / actions of the tax service has been extended to the last calendar day of the month in which the quarantine ends.
  • for the period from March 1 to the end of the quarantine penalties are not applied for violations: late payment (late transfer) of the single contribution; incomplete payment or late payment of the amount of the single contribution simultaneously with the issuance of the amounts of payments for which the single contribution is accrued (advance payments); late submission of reports.
  • the requirement for the authorized capital of a company that plans to obtain a banking license has been reduced from UAH 500 million to UAH 200 million.
  • until the end of the quarantine, the moratorium on scheduled inspections by inspection bodies (except for tax) was extended.
  • until the last calendar day of the month in which the quarantine ends, the moratorium for the Tax Service on conducting documentary and factual inspections and non-application of penalties for violations of tax legislation committed for the period from March 1 has been extended as well as non-accrual of penalties on consumer loans for the period from March 1. Interest rates will not increase;
  • local governments have received the right to reduce in 2020 the fee for land and / or tax on real estate other than land, in respect of non-residential real estate owned by individuals or legal entities.

It will be recalled that on the eve of a large number of professional associations, including the Ukrainian Association of Furniture Manufacturers, appealed to the Government to easy the quarantine and support the state’s economy.

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