The Rada may introduce a new tax / Photo from UNIAN, by Volodymyr Hontar
Legislators are mulling over taxation of large translational companies that provide e-commerce services in Ukraine.
The adoption of the bill on taxation of transnational corporations will allow the Ukrainian government to receive up to UAH 3 billion, or US$105.4 million in budget revenue per year.
This was stated by head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Danylo Getmantsev during a meeting of the Conciliation Council in parliament.
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"Our committee has considered bill No.4184 on the so-called 'tax on Google,' which we propose as tax large multinational companies that provide e-commerce services. On the one hand, it will provide additional budget revenues starting from UAH 3 billion, and on the other hand, it will put both our advertisers and large foreign advertisers on an equal footing," he said.
Bill No. 4184 on amendments to the Tax Code of Ukraine regarding the abolition of taxation of income received by non-residents in the form of payments for the production and or distribution of advertising, and the improvement of the taxation procedure for value-added tax transactions for the supply of electronic services by non-residents to individuals was registered in parliament on October 2.