Zelensky announces tax reform: 2% of turnover, simplified accounting, voluntary single tax, no checks

 The Ukrainian government has agreed on draft decisions to support the Ukrainian economy in an effort to maintain the operation of businesses and employment in places where security permits that, President of Ukraine Volodymyr Zelensky said.

"First, we are starting tax reform: instead of VAT and the income tax, we are giving a rate of 2% of turnover and simplified accounting. For small businesses – it is the first and second groups of individual entrepreneurs – we are introducing voluntary payments of the unified tax. In other words, pay if you can, but if you cannot, there are no questions," Zelensky said in a message published in the early hours of Tuesday.

The second main point is maximum deregulation of business, he said.

"We are cancelling all checks for all businesses in order to allow everyone to work normally, in order to enable cities to return to life, in order to allow life to continue in all places where there is no fighting. There is only one condition – you must ensure the normal operation of your business within the framework of Ukrainian legislation," Zelensky said.

These are just the first two steps of Ukraine's tax reform, he said. "It will be continued," Zelensky said.

Source: www.en.interfax.com.ua