Laws to Enter into Force on January

by Roman Cheplyk
Tuesday, December 28, 2021
Laws to Enter into Force on January

From January 1, 2022, laws that relate to business and taxes come into force in Ukraine

At the end of November, parliament passed a bill that would change paying taxes.

What will change for entrepreneurs:

  • The owner or tenant of the land will pay tax on the ground — $55 per hectare, even if he does not have income from it. The minimum land area that allows using the simplified tax system will be 0.5 hectares, instead of 2 hectares;
  • For the sale of agricultural products worth $2638 per year, you will need to pay 18% of income tax;
  • Entrepreneurs' tax debts will be collected directly from a bank account or in cash without a court decision. If the amount of the debt is more than $36.6 thousand, the business owner may be prohibited from traveling abroad through the courts;
  • It is allowed to conduct audio and video recording of tax audits. Both tax authorities and taxpayers can do this. The records can be used in court.

Three more laws will come into force on January 1, 2022, which will change various industries of Ukrainian business:

  • The law on inland waterway transport will allow Ukrainian ships to transport cargo across Europe. Now at the border, the cargo is moved to foreign vessels. It is planned that the new law will help develop the industry in Ukraine. Before that, for more than 20 years, river transportation was regulated only by bylaws;
  • The law on electronic communications reduces the requirements from the state to Internet operators. Now they will be able to choose the technology to use on the frequencies independently. Moreover, operators will have to provide subscribers with information about the minimum, average, and maximum Internet speed. In addition, access to the Internet is now guaranteed by the state;
  • The law on public electronic registers defines seven central registers that contain information about Ukrainians.
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