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Government has approved a draft law implementing a single account for tax payments

11.08.2017 13:52 "Agro Perspectiva" (Kyiv) The Ukrainian Government has approved a draft law implementing a single account for the payment of taxes and fees as well as the single social tax. Following this draft law, any Ukrainian taxpayer would be entitled to open a single account at the State Treasury Office at her/his discretion to use it for the transfer of all taxes and fees as well as the single social tax, Government Portal reports. As to the report, taxpayers would be able to pay the income tax, corporate profit tax, rent fee, environmental tax and other taxes and fees set by the Tax Code as well as the single social tax. The only exceptions would be VAT and the excise tax on fuel sales. As to the Tax Code, these two taxes are administered electronically via dedicated systems. As to the report, the benefits of the new initiative are simpler procedures for tax calculation, significant reduction of costs and time consumption; lower number of wrong payments or excessive payments by taxpayers and higher transparency and trust of taxpayers towards State authorities.

Agro Perspectiva

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