In
the
post of 3
December
2013, it was already talked of the tax novelties taking effect
from 1 January 2014.
The
Parliament of Ukraine did not avoid the temptation of changing many
of them by its Act
of 19 December 2013 “On Amending Tax Code of Ukraine in
Relation to Some Tax Rates”. What follows is a brief account of the
pivotal changes
brought
by the said Act:
-
The VAT rate in 2014 remains at 20%, the
rate reduction to 17% was
postponed to 2015;
- The
corporate income tax rate in 2014 is reduced to 18%, rather than to
16%, as was previously set out. In 2016 the tax rate will amount to
17% and finally in 2017 will constitute 16%;
-
The VAT exemption for
scrap metals and wood (certain items) was extended until the end of
2014;
- The VAT
exemption in respect of supplies and exports of certain cereals
(save for those made by producers and first-tier intermediaries) which was intended
to cease on 1 January 2014, became permanent;
-
А ban for 2014 on the
utilization of securities-related losses accounted for as at 1
January of this year;
- Outlawing an
excise duty avoidance scheme involving the import of exempt cargo
vans into Ukraine with their further rearrangement into the cars.
*
- Photo from http://weatherpeace.blogspot.com
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