Leasing operations were streamlined

The concept of open banking will work

Small business protects itself

“Melting” furniture

Construction and furniture: useful experience

Everything that happened last week in Ukraine and the world and that is relevant for the furniture maker, read in our digest:

1. The Verkhovna Rada adopted Bill №3601, which amends the Tax Code of Ukraine, eliminating inconsistencies in the definition of leasing (lease) transactions and related regulations.

In particular, the meaning of the concept of “leasing transaction” is the transfer of fixed assets in the possession and use of individuals and/or legal entities (lessees) for a fee and for a specified period.

The bill also proposes to define the concepts of leasing (rental) operation, operating leasing (lease) and financial leasing (lease) in the Tax Code as a business transaction of a legal entity, with the exception of individuals as those who can provide such services. 

2. The concept of open banking will be introduced in Ukraine, which will create a full-fledged market for payment services. A law has been adopted defining the general procedure for performing payment transactions in Ukraine (including those initiated or completed in Ukraine), establishing an exclusive list of payment services, the procedure for providing them, authorization conditions and a list of categories of payment services providers. There will be nine payment services, including seven financial and two non-financial (payment initiation service and account information service). The market participant will be able to develop one of the selected services.

3. Representatives of small and microbusiness in Ukraine at the forum “United Voice of Small Business 2021: restarting dialogue with the government” (this category of entrepreneurs suffered the most from quarantine, unfair competition and ill-considered legislative initiatives) to discuss the draft law on small business development, in which they explained all the problematic rules and wrote the rules.

In particular, it is proposed to increase the limits on the single tax. They take into account the current state of affairs, inflation, meet the definition of “microbusiness”. The second important issue is the functionality of the data accounting system of registrars of settlement operations, which collects information about all transactions. But if earlier this information was not analyzed and did not benefit either the state or business, now the functionality is developing, and the information becomes useful. 

4. Tatiana Blass, a designer from Sao Paulo, has been implementing the Tails project for more than ten years, which presents sculptural installations on furniture and decorative accessories.

When looking at unusual compositions, the illusion arises that the materials from which their elements are made have lost their basic physical properties and contours. Chairs, benches as if made of ice cream or plasticine, so they are deformed under the influence of external forces – temperature or pressure. This is how sculptural installations made of lacquered wood and fibreglass “melt”. The visual impression is enhanced by the play of contrasting shades of colour.

5. Changing the criteria of standard housing can help furniture makers, in particular, providing them with mandatory finishing and furnishing – this will provide furniture companies with a guaranteed steadily growing market. Therefore, Russian furniture makers at the government level are now actively lobbying for such changes in the criteria for standard housing and asking to include finishing and furnishing. This will promote the inflow of investment in the furniture industry and ensure the growth of the domestic furniture market by 10-15% per year.