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OPPOSITION PLATFORM – FOR LIFE faction eyes on adjusting income limits of individual entrepreneurs for cash register requirement

MPs from OPPOSITION PLATFORM – FOR LIFE suggest to increase the maximum income of individual entrepreneurs, the excess of which requires the use of a cash register.  The respective draft law No.4490 “On amendments to the Tax Code of Ukraine and other laws of Ukraine to promote the economic activity of an individual entrepreneur without the use of a registrar of accounting transactions and preserve the right to use an Income Accounting Book” was registered in the parliament.

The draft law suggests to adjust the amount of the marginal income of an individual entrepreneur, the excess of which obliges the use of the cash register, regardless of the field of activity:

the first group – 750 subsistence minimums for able-bodied person, established by law on January 1 of the tax (reporting) year;

the second group – 3000 subsistence minimums for able-bodied persons, established by law on January 1 of the tax (reporting) year;

the third group – 7000 subsistence minimums for able-bodied persons, established by law on January 1 of the tax (reporting) year.

The draft law also provides for the preservation of the right to use an Income Accounting Book by individual entrepreneurs.

“Implementation of this legislative initiative will reduce the negative effects of administrative influence on the activities of individual entrepreneurs and promote business growth, protect the legitimate interests of taxpayers and eliminate discriminatory approaches to business taxation,” an explanatory note to the draft law says.

Опубликовано: 15 December 2020
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