Parliament introduced tax holidays for business during quarantine

The package of bills adopted by the Verkhovna Rada of Ukraine (Parliament) to prevent coronavirus (Covid-19) spread will eliminate taxes for business. This was announced by the Chairman of the Parliamentary Committee on Economic Development, member of the Sluga Narodu faction Dmytro Natalukha, reports.

The bill provides for business not to be taxed including the consolidated social tax (CST), as well as fines and penalties from Mar. 1 to Apr. 30, 2020.

"The time has come to defer payment of taxes or their significant reduction, the overall reduction of CST, VAT, elimination of VAT for transport logistics and courier companies, which provide services to citizens of Ukraine," said Dmytro Natalukha.

According to him, there is a need for tax benefits and holidays for companies operating in areas that have suffered the most losses, extension of credit payments for enterprises, etc.

The Chairman of the Parliamentary Committee on Finance, Tax and Customs Policy Danyil Hetmantsev stressed that business should be exempt from any liability for violations committed within 2-3 months, including penalties, that is during a period that qualifies as quarantine.

Previously reported that President of Ukraine Volodymyr Zelenskiy instructed the Government to limit food exports for the coronavirus (Covid-19) pandemic.

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