Selensky signed the law on simplification of tax administration

Зеленськй подписал закон об упрощении администрирования налогов

President Vladimir Zelensky has signed the law №1210 “On amendments to the Tax code of Ukraine concerning improvement of tax administration, elimination of technical and logical inconsistencies in the tax legislation”, reported the press service of the Office of the President.

“The law envisages a number of changes aimed at improving and simplifying tax administration, harmonization with international standards”, – noted in the Office of the President.

The document introduces international standards of tax control in international trade. The law also provided for the implementation of the provisions of the Plan to counter the practices of erosion of the tax base and the withdrawal of profits from taxation (BEPS action Plan).

“In addition, under the document, the changes provide the necessary conditions for reform of the State tax service and gives them the opportunity to transform its structure in accordance with the concept of a single legal entity,” – said in the Office of the President.

The law provides improvement of system of tax administration and expansion of opportunities for online services for taxpayers. Now the payer, which delivers electronic statements or pass the online authentication in the electronic office will be able to submit a statement about the desire to receive documents from tax authorities in electronic form.

“The implementation of the provisions of the act also extends investment incentives through the introduction of accelerated depreciation of fixed assets”, – added in the income statement.