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Ukraine streamlines tax administration

Ukraine streamlines tax administration

KIEV: The Government of Ukraine has approved a draft law that will enable taxpayers to pay taxes, fees, and the social tax through a single tax account.

According to a recent announcement by the Ministry of Finance, taxpayers will be given the choice of opening the single tax account from which they can pay a variety of taxes and levies, including income tax, corporate tax, social tax, the rent fee, environmental tax and numerous other taxes and fees set by the Tax Code.

However, taxpayers will be unable to use the system to pay value-added tax and excise tax on fuel, which are already administered through a dedicated electronic system.

The ministry said that the single tax account will significantly reduce compliance costs for taxpayers, and reduce the number of erroneous tax returns.