A number of important changes have been made to the Tax Code

The Parliament has voted in favor of the draft law No. 9662 on amendments to the Tax Code of Ukraine to improve online communication with taxpayers and clarify certain provisions of the legislation in the second reading.

As a reminder, the proposals were settled by the second reading:

• The timeframe for VAT refunds was reduced to 20 days for desk audits and 40 days for documentary audits.
• to regulate the issue of establishing tax exemptions for land payments and tax on real estate other than land plots in the territories for which a decision on mandatory evacuation of the population has been made (the decision of village, town and city councils, military administrations and civil-military administrations is mandatory);
• abolish liability for erroneous indication by a taxpayer in payment documents of the wrong budget account of the recipient of funds (subject to timely payment);
• expand the number of cases of interaction between a taxpayer and a controlling authority via video conference (except for consideration of complaints and audits for mutual agreement procedures);
• to resolve the issue of establishing information exchange between tax authorities and the Central Securities Depository and depository institutions authorized to service accounts of company shareholders in the company share accounting system;
• shortening the terms of budget reimbursement;
• to modernize the procedure for involving commodity exchanges in the sale of property held in tax lien;
• to provide an opportunity to take into account the taxpayer's request for inclusion in the Register of non-profit institutions and organizations, registration as a value added tax and single tax payer not only during the state registration of a new legal entity, but also when applying for state registration of changes to information about a legal entity;
• to cancel the restriction for payers of the minimum tax liability on the time limit for applying for data reconciliation, which is currently only thirty days from the date of delivery of the tax assessment notice;
• etc.

We will provide you with more details on the changes in the following materials.