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Single social security tax in Ukraine to be cut 40%

Staff writer ▼ | December 22, 2015
A working group on the revision of the Tax Code in Ukraine and drawing up a draft 2015 national budget on its basis has agreed that the single social security tax rate will be cut by 40% next year.
Volodymyr Groysman
Ukraine   Simplified tax system to be retained in 2016
The retaining of the simplified tax system, parliamentary Speaker Volodymyr Groysman has said.

"We've agreed that single social security tax will be reduced to 22% - this is a positive thing in bringing [the economy] out of the shadows. We hope that it will happen. We’ve agreed that we retain the simplified taxation system for small and medium enterprises," he said at a meeting of the coordination council of the parliament.

"We’ve agreed that we retain the simplified taxation system for small and medium enterprises," he added.

He also said that it was managed to insist on the financial decentralization.

"This will mean that local budgets will have the same system as in 2015," he said.

Leader of Samopomich faction Oleh Bereziuk said that the draft 2016 national budget would retain the achievements of the 2015 budget on decentralization: he said that the resource of local budgets could be reduced by UAH 36 billion.


 

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