- Ukrainian business community is concerned about a proposed requirement for single tax payers to register for VAT once annual turnover reaches approximately 1 million UAH.
- They argue this change could increase shadow economy activity, lead to business closures, slow regional recovery, and cause an outflow of entrepreneurs abroad.
- The business community supports cooperation with the IMF and reforms for transparency and anti-corruption but urges a regulatory impact analysis before changing VAT registration thresholds.
- They recommend clear legal criteria to prevent tax evasion schemes, systematic tax control in high-risk sectors, and a full overhaul of customs and tax authorities with international experts.
Source: news.dtkt.ua
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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