The Draft Law #2524 amending the Tax Code is included for consideration in the second reading at today's special Parliamentary session. The Draft Law contains amendments that partially reduce the certain negative impact of the previously adopted Law #466.
AmCham members' experts emphasize the importance of taking into account all crucial proposals from the business:
- to provide a concise and clear for taxpayers algorithm for determining a reasonable economic cause (business purpose)
- to exclude the introduction of "constructive" dividends
- to abolish changes in the rules of "thin capitalization", including interest deductibility limitation
- other proposals, namely taxation of metallurgical, mining and tobacco industries
The American Chamber of Commerce in Ukraine urges the Parliament of Ukraine to consider all the submitted by the business community proposals as such that will make the tax legislation of Ukraine more effective.