Will be fined for violating the requirements of currency legislation

The Bureau of Economic Security will replace the SFS

Transparent financial statements of companies

Individual licensing for the import of Ukrainian board materials

Creators of Ukrainian design

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

1. Tax authorities can now fine legal entities for violating the requirements of currency legislation – 25% of the amount of the transaction in the first violation. And for repeated violations – in the amount of 50 percent of the transaction amount. Fines may be imposed within six months from the date of detection of the violation based on the results of inspections.

2. The Bureau of Economic Security, which was established on May 12 by the decision of the Cabinet of Ministers, will open on September 25, and the next day the State Fiscal Service will cease to exist. This was announced by the head of the SFS Vadym Melnyk during a press conference.

As we have already reported, the Bureau of Economic Security will take measures to prevent, detect, stop, investigate and detect crimes in the field of formation and use of state financial resources.     

3. The State Tax Service has published the financial statements of companies on the Unified Open Data Portal and on its own website. Now everyone can get acquainted with the real financial situation of companies and the amount of taxes paid by them to the budget. This is information about the financial condition and activities of the company, which contains information about income, losses, assets, and funds on its balance sheet. It is noted that open financial reporting will help Ukrainian businesses to increase the transparency of signing agreements with contractors, better assess the development of their company in relation to key competitors, and reduce the risk of cooperation with one-day companies.

4. The Government of Belarus has published a list of Ukrainian goods that have been individually licensed for import.

The document states that the import of certain types of goods originating in Ukraine to Belarus is carried out under one-time licenses. The Ministry of Antimonopoly Regulation and Trade of Belarus is authorized to issue such licenses in coordination with state bodies and other organizations.

The list of goods subject to import restrictions also includes chipboard and fiberboard made in Ukraine. The main part of the resolution enters into force 10 days after its official publication and will be valid for six months.

The Ministry of Foreign Affairs of Ukraine is ready to help Ukrainian companies find alternative markets for their goods if Belarus decides to apply unjustified restrictive measures against them, Foreign Minister Dmytro Kuleba said the day before.

And the Ukrainian Association of Furniture Manufacturers, whose goal is to promote the development of the Ukrainian furniture market, encourages manufacturers of panel materials to concentrate on the Ukrainian market and export, not materials, but finished products, receiving added value from exports.

5. Anastasia Vilchynska, founder of Vilchinskaya Design Bureau: “Now I am engaged in subject design. This is not quite the usual subject design. I have long been concerned about the environment and global warming. That’s why I develop concepts for a collection of things that will make people think every day about consumption, about the way of thinking, about where they are going, what to give up now, so as not to give up even more in 20 years.