Reduction of Single Social Security Tax, cancellation of military fees, and tax audits - Dubinskyi introduces a bill to support business during quarantine

People's Deputy, Deputy Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy Aleksandr Dubinskyi, today, on November 25, registered bill No. 4421, which is aimed at supporting the business during the period of quarantine restrictions on COVID-19 in Ukraine. 30 people's deputies signed the document.

The bill provides for a number of changes for a period of up to three months, which will allow catering, shopping and entertainment centers, sports facilities, and businesses aimed at serving the population and trade to survive:

• reduction to 11% of the size of a Single Social Security Tax, for compulsory state social insurance;

• exemption from liability for non-fulfillment or untimely fulfillment of economic obligations and the application of economic sanctions;

• prolongation of the license for the retail trade in alcohol and tobacco products, etc.

Also, bill No. 4421 provides for a number of innovations that will help to withstand all enterprises in the trade, service, and entertainment sector:

• Expansion of the moratorium on inspections during the quarantine period, in particular, desk inspections and cross-checks.

• Cancellation for three months of military tax (1.5%);

• Establishing a 12-month moratorium on any change in the rate of Value Added Tax.

The document was designed within the framework of the working group on the development of compensatory mechanisms to support the restaurant, trade, and entertainment business during the quarantine restrictions. It was created on the initiative of Aleksandr Dubinskyi with the Verkhovna Rada Committee on Finance, Tax and Customs Policy.

In addition, lawmakers and government members, representatives of the European Business Association, the Union for the Protection of Entrepreneurship, the Federation of Employers and a number of specialized unions and associations: the Union of Cinemas of Ukraine, the Association of Hotel Associations and Hotels of Ukraine, the Association of Restaurant Business, and others participated in the working group.

Andrey Pshenichnyi for