On May 10, 2018, the Cabinet of Ministers adopted the decree “On Amendments to Some of the Decrees of the Cabinet of Ministers of Ukraine” prepared by the Ministry of Finance. This decree abolishes mandatory seals on documents submitted to state authorities and abolishes the mandatory duplication of electronic documents as a hard (printed) copy.
What’s it about?
The Law of Ukraine No. 1982-VIII dd. March 23, 2017 “On Amendments to Some Acts of the Legislation of Ukraine on the Use of Seals by Legal Entities and Private Entrepreneurs” abolishes the mandatory use of seals on the documents of business entities and stipulates administrative responsibility of the employees of state authorities for demanding stamps on the official documents of business entities.
Also, the current legislation contains regulations which contradict priorities related to the development of electronic communications and pose an excessive burden for business. Hence, it became necessary to analyze and review the legislation accordingly.
Due to the above, the Ministry of Finance prepared a decree abolishing the mandatory use of seals by business entities (irrespectively of the availability of these seals) when providing information upon request of the Derzhfinmonitoryng, sending requests to state authorities and to state registrars by entities which are subject to the primary financial control, maintaining the register of financial transactions. This decree also abolishes the mandatory duplication of electronic documents as a hard (printed) copy.
What’s the benefit?
The decree is set to implement the deregulation policy aimed to simplify business activities, including the abolition of the mandatory use of seals by business entities and the duplication of electronic documents as a hard copy. This shall reduce the time consumption and costs of business entities and contribute to the development of IT resources.