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The document formalizes official status of rural households.
Ukrainian President Petro Poroshenko on August 10 signed a bill into law to amend the Tax Code, as well as a number of legislative acts regarding stimulating the creation and development of family farms.
The document formalizes official status of rural households, allowing them to legally sell their produce, get social protection, and be entitled to pensions, according to the presidential press service.
In particular, the law introduces amendments to the Tax Code of Ukraine and the laws: "On Farming", "On State Support of Agriculture in Ukraine", "On Collection and Accounting of the Single Contribution to Obligatory State Social Insurance," and "On State Registration of Legal Entities, Individual Entrepreneurs and Public Organizations."
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"The amendments envisage assigning of entrepreneurs who organized farms to single tax payers of the fourth group of individuals if they meet certain criteria, including state registration/cancellation of registration, tax accounting and reporting, single tax payment, etc. The law also provides for state aid for the payment of single social tax (from 10% to 90% of the minimum insurance contribution) for each member of the farm over a 10-year period at the expense of the State Budget of Ukraine through the mechanism of additional payments of single social tax in favor of insured persons, members of the family farming enterprises," reads the statement.
In addition, the document amends the provisions on creating and operating a family farm without a legal entity's status.