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Taxation Hospitality & Tourism

Policy Progress: Draft Law #5590 Reducing the VAT Rate for Restaurants Was Registered in the Parliament

Policy Progress: Draft Law #5590 Reducing the VAT Rate for Restaurants Was Registered in the Parliament

AmCham Ukraine welcomes registration of Draft Law #5590 amending the Tax Code regarding the reduction of the value-added tax (Draft Law) rate by the group of the Members of Parliament. The Draft Law foresees the establishment of the reduced VAT rate in the amount of 7% for restaurants and catering services provision.

AmCham Ukraine addressed the Parliament and the Government to support restaurants for the period of implementation of measures on preventing the occurrence and spread of the coronavirus disease (COVID-19). In particular, we addressed the state authorities with the initiative to introduce a reduced 7% VAT rate. Implementation of the proposed amendments will positively affect the industry, helping it further develop and save jobs.

AmCham Ukraine welcomes this step on the way to support the business community and would like to thank Members of Parliament for supporting the initiative and all members who were actively involved in the advocacy process for their contribution. We will keep working on further improvement of conditions for doing business in Ukraine.