President Zelensky signs amendments to Tax Code

President Zelensky signs amendments to Tax Code

Ukrinform
President Volodymyr Zelensky has signed a law amending the Tax Code of Ukraine to improve tax administration, eliminate technical and logical inconsistencies in tax legislation, the president’s press service has reported.

"Volodymyr Zelensky has signed the Law of Ukraine ‘On amendments to the Tax Code of Ukraine to improve tax administration, eliminate technical and logical inconsistencies in the Tax Legislation,’ No.466-IX, which the Verkhovna Rada of Ukraine adopted on January 16, 2020," reads the statement.

It notes that the law provides for a number of changes aimed at improving and simplifying the system of tax administration, bringing them in line with international standards.

According to the President’s Office, the signed law aims to introduce international standards of tax control for all participants in international trade and implement the provisions of the Action Plan on Base Erosion and Profit Shifting Plan (BEPS Action Plan).

In addition, the changes envisaged by the document provide for the necessary conditions for reforming the State Tax Service and open the possibility for transforming its structure in line with the concept of a single legal entity.

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