Innovations in tax law of Ukraine

Some legislative innovations in tax law  from September 2015:

– tangible assets will be fixed assets if their value exceeds 6000 UAH (previously 2500 UAH);

– in a case when tax declaration is sent by post, it must be sent no later than 5 days (previously 10 days) before the expiry of the deadline for submission of the tax declaration, defined in the Code;

– if the taxpayer independently discovers errors in tax reporting, corrects them within 90 calendar days from the deadline for payment of a monetary obligation, he will not pay fine;

– until 31 December 2016 a taxpayer with income or volume of transactions in the reporting year at least 20 million, paying the amount of tax liability without appeal the tax notice-decision, will be exempt from punitive penalties;

– supervisory board cannot use the inspection report as a basis for conclusions about the relationship between the taxpayer and its counteragents, if the tax notice-decision was not sent as the result of the inspection report;

– taxpayer can appeal the tax advice in court.

More tax innovations can be found in the Law .