Changes to the Tax Code of Ukraine 2022

Not so long ago, a new law was adopted on amending the Tax Code of Ukraine, popularly called the bill 5600.

What are we interested in the changes that have taken place?

In fact, we are interested in a lot, because the changes have affected all individuals, entrepreneurs, and legal entities, especially those who deal with energy and agricultural activities.

This also applies to the subjects of hospodar activities with foreign investments, as well as individual entrepreneurs of foreigners working in Ukraine in the field of IT.

So what changes have taken place? (We have selected what, in our opinion, is the main thing for our customers):

  • The changes relate to the calculation of income tax, (which I understood): that if in the previous version of the TCU, if there were losses last year, then they were deducted when paying taxes (the amount of taxation decreased), then according to mines, the amount of taxation can only decrease 50% loss.
  • If you imported equipment, then the tax installment is valid until 2025 (benefits).
  • If activities are carried out from the sale of agricultural products or agricultural land is used, an additional tax must be paid for this, the tax amount is not less than the Minimum Tax Liability (there is a deduction formula).
  • Also, for registration for the 4th group of individuals, the size of agricultural land was reduced now to 0.5 ha (previously 2 ha).
  • Excise tax rates have changed (since the third month from the day the law comes into force).
  • If a legal entity has a debt, then the head cannot go abroad (providing measure).
  • The term for issuing a tax credit for VAT on the basis of old invoices was reduced to 365 days (was 1095 days).
  • Legal entities engaged in poultry breeding will not be able to be payers of a single tax on the 4th group.
  • ISPs are now in Group 3.
  • When paying through PPO, a barcode of the excise tax stamp is required.
  • From a smaller fine twice, if there are no documents for the accounting item.

Therefore, according to the changes, most of which come into force on January 1, 2022, the state is trying to increase budget revenues from ordinary entrepreneurs, thereby increasing taxes.

Therefore, our first advice: before paying taxes in 2022, check all the details and documents that need to be filled out and submitted.

We also advise those who are engaged or plan to engage in activities related to agricultural activities to order a consultation, because there are a lot of changes in the new code regarding such persons.

The United International Partners team wishes you health in the new 2022 and the prosperity of your business!

The Immigration Law Office was established in 2007. It provides assistance to foreign clients in Kiev (KV), Odessa (OD), Dnipro (DP), Lviv (LV), Kharkiv (KH), Lugansk (LG) and Donetsk (DN) regions, Crimea (KR) and others regions of Ukraine.

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