Poroshenko signs amendments to budget, tax codes
Ukrainian President Petro Poroshenko has signed law No. 2233-VIII to amend the Budget Code of Ukraine and law No. 2458 to amend the Tax Code, as well as a number of legislative acts on ensuring the balance of budget revenues in 2018, that's according to the presidential press service.
As reported, said laws are included in the budgetary legislative package.
"Document No. 2233-VIII regulates certain issues related to the formation and implementation of the State Budget of Ukraine for 2018 and creates conditions for the stable functioning of the budget system and ensuring the implementation of healthcare and education reforms," it said.
Read alsoEBA Tax Index improves due to quality of tax legislation in Ukraine The law provides for clarification of the procedure for the formation and implementation of local budgets, as well as fiscal relations between the state and local budgets. It also specifies the order of financing healthcare, education, and social protection for citizens. The law stipulates the creation of the State Water Resources Development Fund and the improvement of regulations on the State Road Fund.
"The document comes into force on January 1, 2018, except for subparagraph 5 of paragraph 37 of Section I, which comes into force on the day following the day of its publication," the press service said in a statement.
Read alsoUkraine tops ratings of largest gainers in ease of doing business since 2010 – FTIn addition, the amendments to the Tax Code envisage the resolution of the issue of blocking tax invoices/calculation adjustments in the Unified Register of Tax Invoices, as well as the indexation of tax rates established in absolute values.
It also ensures the introduction of changes to the rules of duty-free goods imports to Ukraine, including by international postal and express mail. Moreover, a number of incentive and preferential norms have been introduced, including the provision of privileges for certain types of activities and products. The amendments also regulate the indexation of the normative monetary assessment of farmland, etc.
The law enters into force on January 1, 2018, except for the provisions specified by the law, which come into force on the day following the day of their publication, that is from July 1, 2018, January 1, 2019, and January 1, 2025.