President Zelensky has introduced incredible tax changes to support business in Ukraine

President Volodymyr Zelensky in his latest address to the nation has introduced incredible tax changes to help Ukrainian business survive in the new conditions.

The Cabinet of Ministers of Ukraine has agreed on a package of decisions to support our economy.

So that business works. So that people have jobs. Where security allows. Where people are ready for it.

First, we are starting tax reform. Instead of VAT and income tax we give a rate of 2 percent of turnover and simplified accounting. For small businesses – this is the first and second group of sole proprietors – we set a voluntary payment of a single tax. That is, if you can – pay. You can’t – no questions asked.

The second is maximum business deregulation. We cancel all inspections for all businesses. So that everyone works normally. So that the cities come to life. So that life continues wherever there is no hostilities.

The only condition is that you ensure the normal operation of your business in the framework of Ukrainian law.

These are just the first two steps of our tax reform. To be continued.

EMPR