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Taxation

Policy Progress: Parliament Adopted Draft Law #4184 Amending Tax Code

Policy Progress: Parliament Adopted Draft Law #4184 Amending Tax Code

On June 3, 2021, the Parliament adopted Draft Law #4184 amending Tax Code regarding taxation of advertising and operations on supply of electronic services by non-residents to individuals (Draft Law).

The Draft Law is aimed at increasing the State Budget revenues from value-added tax (VAT) through taxation of non-residents who provide electronic services to individuals and are located in the customs territory of Ukraine, as well as at creating favorable conditions for efficient and unburdensome administration of tax-related procedures for business and the state.

Certain proposals to improve the Draft Law, suggested by AmCham Ukraine member companies, were considered in the final wording. We support the introduction of non-residents taxation, which ensures fair tax conditions for national and international companies of non-residents that provide electronic services in Ukraine.

We would like to thank all AmCham Ukraine members who were actively involved in this advocacy process for their contribution and will continue to work to ensure fair taxation conditions in Ukraine.