- Businesses are requesting to increase the VAT registration threshold by indexing it to accumulated inflation from 2015-2025.
- The Ministry of Finance proposed mandatory VAT registration for single tax payers with taxable operations of 1 million UAH in 2026, effective in 2027.
- Business associations argue the regulatory impact analysis underestimates administrative costs, citing much higher real labor and salary expenses.
- Estimated unproductive costs for affected entrepreneurs could reach 61-115 billion UAH per year, far exceeding the expected 40.1 billion UAH in budget revenue.
- There are concerns about a shortage of qualified accountants and increased service costs, leading to a negative socio-economic effect from the new regulation.
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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