Ukrainian finance ministry prepares draft amendments to improve tax system

Ukrainian finance ministry prepares draft amendments to improve tax systemThe tax police could be removed from supervision agencies of Ukraine's State Fiscal Service, but powers imposed on divisions of the financial police could be delegated to the Finance Ministry.

Relevant amendments are outlined in draft amendments to the Tax Code posted on the Finance Ministry's website.

"The Finance Ministry jointly with lawmakers, business representatives, and experts have drawn up a package of amendments to improve the tax system… we present the working draft for comments and proposals from the public," the ministry said.

The ministry said that the amendments aim at weakening pressure on business and forming conditions for its development.

According to an explanatory note to the document, the bill intends to improve the investment climate in Ukraine thanks to the relaxation of the tax system and tax administration.

The amendments envisage the transfer of all methods and administration of all databases to the Finance Ministry.

It is proposed that the Finance Ministry will decide on the postponement of payments of pecuniary liabilities or tax debt for the period of more than the budget year.

The new structure of the State Fiscal Service is foreseen: inspections will be transferred to the regional level, while district tax inspectorates will fulfil only servicing functions.

The bill proposes publishing a plan of scheduled inspections on the website of the State Fiscal Service.

The notion of the electronic cabinet of taxpayers would be described in the law.

The Finance Ministry will have the right to provide written and electronic tax consultations, while the State Fiscal Service will provide only oral consultations.
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