Tax compromise was supported by deputies

The Verkhovna Rada of Ukraine adopted in the first reading the bill № 4930 "On Amendments to the Tax Code of Ukraine to clarify the tax liabilities on corporate income tax and value added tax in case of applying the tax compromise."

"This is an important bill because it was the business that requested to initiate a mechanism for compromise. And the positive side is that the Parliament agreed with entrepreneurs and supported our initiative to release from financial, criminal and administrative responsibility those businesses, which will take advantage of the tax compromise", – the First Deputy Minister of income and taxes of Ukraine Igor Bilous said.

According to him, after the period of this compromise is expired, such business can operate openly, undergo audit, attract funding, increase their capitalization.

Recall that the bill on the tax compromise provides for exemption of taxpayers from the financial, criminal and administrative liability under the condition of the voluntary payment of 15% of the understated tax liabilities on corporate income tax and / or value-added tax for taxable periods prior to January 1, 2014.