President signed the act on the split payment mechanism and the new VAT rate matrix

Preventing VAT fraud and fraud and protecting the buyer of a good or service – these are the most important goals of introducing a mandatory split payment mechanism (MPP) in the so-called sensitive industries.
MPP is to remove the risk of disappearance of taxpayers along with the tax paid to them by contractors, but not paid to the state budget.
The changes in VAT regulations also concern the simplification of VAT rates, ensuring their transparency and user-friendliness, which will facilitate the conduct of business by taxpayers.