News date: 22 December 2020
On 17 December 2020, Nina Bets, the tax lawyer at Ilyashev & Partners Law Firm, held a webinar on the Impact of the COVID-19 Pandemic on the Tax Legislation of Ukraine. The event was organized by the educational platform for entrepreneurs SME ONLINE Hub, created by the Unlimit Ukraine project of the European Business Association (EBA) and Raiffeisen Bank Aval.
The event was aimed to help small and medium-sized businesses to understand the changes made to the tax legislation during the quarantine. Nina Bets spoke about the introduction of a moratorium on tax audits and changes in the calculation of fines, and explained which Ukrainian taxpayers may count on the exemption from single tax and unified social tax during the winter quarantine.
“The pandemic affected the regulatory field of most countries, – noted Nina Bets. – Ukraine is no exception: most changes have been made to the Tax Code”.
According to the expert, despite the legislator’s persistent efforts, there was no full-fledged tax exemption during quarantine in Ukraine: at the moment businesses may only rely on the so-called ‘silence regime’ as regards the inspections, fines and postponement of obligatory use of cash registers.
SME Hub is an intensive educational program allowing small and medium-sized business owners to acquire the necessary knowledge and practical skills to successfully do their business in Ukraine and abroad from the professional business practitioners of large corporations.