Icon
Come back

2 min

28 Apr. 2024

2827

A white business club will be created in Ukraine: how will it work and what privileges will it provide to entrepreneurs?

Popular
Work
Finance
BusinessUA
Ukraine
A white business club will be created in Ukraine: how will it work and what privileges will it provide to entrepreneurs?

The Verkhovna Rada has approved draft law No. 11084 on the so-called white business club. Find out what privileges the authorities propose to introduce and which taxpayers are going to be included in the list

Legal assistance in starting and doing business in Ukraine
Legal assistance in starting and doing business in Ukraine
GET


The Verkhovna Rada has adopted in the first reading the draft law No. 11084 on the peculiarities of tax administration during martial law for taxpayers with a high level of voluntary compliance with tax laws. This was announced by Danylo Hetmantsev, Chairman of the Verkhovna Rada Tax Committee, who is the author of this draft law. The initiative was supported by many MPs, and the draft law received 270 votes in favor.


What is a white business club?


The project will create a so-called “white business club” that will be accessible to responsible entrepreneurs. As Yaroslav Zheleznyak, Deputy Chairman of the Tax Committee, explained, the new rules will apply to entrepreneurs who meet “simple and transparent criteria for paying taxes above the industry average and paying higher than industry average wages.”


In general, the draft law proposes


– to introduce a list of taxpayers with a high level of voluntary compliance with tax laws, who will enjoy a number of advantages in tax administration during martial law;

– to include in the List of taxpayers with a high level of voluntary compliance with tax legislation on a quarterly basis legal entities and individual entrepreneurs who meet a number of requirements and criteria, taking into account the taxation system (in particular, requirements for the level of tax payment, requirements for the level of payroll, etc;)

– introduce a number of benefits for members of the “white business club”.




Visit Ukraine on social media: Telegram | YouTube | Instagram | Facebook | Twitter | TikTok




What privileges will be granted to members of the white business club?


According to Mr. Hetmantsev, taxpayers with a high level of voluntary compliance with tax legislation included in the List will receive the following benefits


– moratorium on documentary audits, except for certain types

– shorter terms of desk and documentary audits for the purposes of budgetary reimbursement;

– shorter terms for providing individual tax consultations;

– a compliance manager is assigned to the taxpayer, with whom the taxpayer will be able to interact, in particular, using remote communication means, including videoconferencing.


In addition, Yaroslav Zheleznyak explained that “a taxpayer, upon request within five days, has the right to receive information about tax information available to the supervisory authority that may indicate tax risks in the taxpayer's activities, as well as advice on how to eliminate such risks.”


If you need advice on starting and running a business in Ukraine, including the current taxation system, please contact Visit Ukraine's lawyers. Our specialists are ready to answer all your questions and help you solve your urgent issues.


To order a legal consultation or full legal support, please follow this link.


We remind you! Ukraine is planning to increase the tax burden on individual entrepreneurs (IEs). The possibility of introducing additional taxation for certain categories of business is also being discussed. Read more about what may change in our previous article.


Photo: Shutterstock


Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.






Ihor Usyk is the Head of Legal Department at Visit Ukraine


If you want to start your own business in Ukraine, you can get advice from my colleagues.
Professionals in the field of business law will help with all the nuances and problems.




We recommend purchasing it for a safe and comfortable trip to Ukraine: 


Visit Ukraine Insurance - safe travel in Ukraine (insurance covering military risks);

Visit Ukraine Tickets - book bus and train tickets to/from Ukraine;

Visit Ukraine Tours - the largest online database of tours to Ukraine for every taste;

Visit Ukraine Hotels - book hotels for a comfortable stay in Ukraine;

Visit Ukraine Merch - choose patriotic clothing and accessories with worldwide delivery.

Cooperation - cooperation and advertising integrations with Visit Ukraine and Visit World projects.




© 2018-2024, Visit Ukraine. Use, copying or reprinting of materials on this site is permitted only with a link (hyperlink for online publications) to Visit Ukraine.

All rights reserved.

Recommended articles

2 min

Popular The Ministry of Economy has made a forecast for 4 years: what will be the inflation and budget deficit and will the dollar reach 50 UAH?

The Ministry of Economy has made a forecast for 4 years: what will be the inflation and budget deficit and will the dollar reach 50 UAH?

The Ministry of Economy has published a consensus forecast for the next 4 years, which describes two scenarios: if the war ends in 2024 and if it lasts longer. Read more about experts' expectations for inflation, GDP and unemployment in Ukraine

24 Apr. 2024

More details

2 min

Insurance How much does travel insurance cost in 2024 and what does it cover?

How much does travel insurance cost in 2024 and what does it cover?

Having an insurance policy is a mandatory requirement for traveling to most countries of the world. We will tell you how much such insurance costs in 2024 and what coverage it has

24 Apr. 2024

More details

2 min

BusinessUA Where will Ukrainians invest in 2024?

Where will Ukrainians invest in 2024?

As you know, money has to work and make a profit. Therefore, when free capital appears, questions arise: where to invest it, how to make a profitable investment, and what kind of income can be expected. Find out where Ukrainians are investing their money in 2024

24 Apr. 2024

More details

2 min

Education Verkhovna Rada passes law on higher education reform: what changes await students

Verkhovna Rada passes law on higher education reform: what changes await students

The Parliament passed a law on higher education reform that opens up new prospects for students. The document envisages significant changes in the higher education system that will affect the learning process and students' rights. One of the key changes is the ability of students to independently determine their educational trajectory. Learn more about the update

24 Apr. 2024

More details