Ukrainian family farms taxation simplified
10.07.2018 21:18 "Agro Perspectiva" (Kyiv) —
As of today, Ukrainian family farms have received a privileged procedure for paying a single social fee. The corresponding amendments to the Ukrainian Tax Code have been adopted by the Ukrainian Verkhovna Rada, with 229 people’s deputies having voted for the relevant draft law, Ukrainian Ministry of Agrarian Policy and Food reports.
«Nowadays Ukrainian farmers and their families living within villages have become full-fledged entrepreneurs and receive a number of benefits. The official business status of preferential taxation allows them to enter new organized markets and increase their profits. In addition, family farms will be able to engage in state support programs and develop their business,» Ukrainian Deputy Minister of Agrarian Policy and Food Victor Sheremeta has said while commenting on the Parliament decision.
As to the report, Sheremeta thanked the people’s deputies for supporting the farming, and added that the adopted changes are important not only for the agrarians but also for the whole of Ukraine, since entrepreneurship will be stimulated within the countryside, and therefore, new jobs will be created and the agrarians’ welfare will grow.