Govt approves simplified profit tax declaration form

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The Cabinet of Ministers of Ukraine has approved a form of the simplified profit tax declaration for enterprises that have zero profit tax rates.

The government made the decision without discussing it at a government meeting on August 9.

According to an explanatory note to the resolution, the simplified profit tax declaration will apply to enterprises which revenue does not exceed Hr 3 million a year. This allows harmonizing some provisions of the Tax Code.

The zero profit tax rate apply to taxpayers with revenue of no more than Hr 3 million and pay at least two minimum wages to employees until December 31, 2021.

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