VAT Payment On Some Imported Goods Was Extended
The News agency "Ukrainski Novyny" reports that the Cabinet of Ministers of Ukraine approved a decree on prolonging the VAT payment period from 30 to 90 days when importing some commodities pertaining to agricultural sector and other sector of the economy. The list of the aforementioned commodities includes energy related products such as coal, coke, oil, and gas plus pesticides such as insecticides, fungicides, and herbicides. In addition, the decree also applies to such products as: rubber, cellulose, and cotton fiber.

Verhovna Rada passed the Law "On state support to a small business undertaking", which determines the opportunity of simplified system of taxation, bookkeeping and accounting to be used for the individuals and legal entities whose average registered quantity of workers during a calendar year is not exceed 50 people, and the volume of gross profit on realization of output (goods, works and services) - no more than 500 thousand of euro.