Cancellation of social contribution for private entrepreneurs and deferrals: the parliament approved business support law

The Verkhovna Rada adopted the law No. 3220 on the support of entrepreneurs during the quarantine period due to the coronavirus.
This is evidenced by the information on the Parliament’s website.
The bill was supported by 359 people’s deputies.
From March 1 to April 30, it is planned:
to exempt all private entrepreneurs and people engaged in independent professional activity from payment of the single social contribution;
to temporarily cancel penalties and fines for late or incomplete payment of single social contribution and late submission of reports on single social contribution;
to abolish commercial real estate and land tax.
From March 1 to May 31, businesses are exempt from main fines and penalties for violations of tax laws. This rule will not apply to VAT, excise tax and rent violations.
The mandatory introduction of cash registers for all categories of simplified tax payers will be postponed for 3 months.
In addition, there are several benefits for citizens:
it is proposed to exempt them from fines and penalties for late payment on consumer loans from March 1 to April 30;
to provide assistance for patients with coronavirus or in self-isolation.
Ekonomichna pravda