On February 25, 2016, representatives of the US Chamber of Commerce in Ukraine met deputy Minister of Finance of Ukraine Olena Makeieva.
During the meeting, issues of tax police were discussed, including the latest amendments to the Tax Code of Ukraine on the VAT administration and implementation of the Tax Code regulations on the corporate profit tax as well as the draft law on authorized economic operators. The participants of the meeting also outlined areas for further cooperation.
In the beginning of the meeting, Olena Makeieva listed the core tasks of the Ministry of Finance which are the reform of the State Fiscal Service and the customs service as well as further improvements of scheduled tax checks based on risk assessment. Also, experts of the Ministry of Finance analyze opportunities for the simplification of tax administration which can be implemented within the area of responsibility of the Ministry of Finance. Thus, 7 consultations on taxation issues have already taken place.
Tetyana Prokopchuk, the vice-president of the US Chamber of Commerce in Ukraine, thanked the Ministry of Finance and Olena Makeieva personally for the permanent dialogue with the member-companies of the Chamber on the elaboration of regulations aimed to settle issues in the field of taxation and customs. She also mentioned the successful settlement of issues related to the acknowledgment of advanced corporate profit tax payments during the payout of dividends for 2014.
Representatives of the Chamber presented their proposals for so-called “quick wins” related to the simplification of tax administration which can be implemented without amending the tax legislation. They include the introduction of bank guarantees as a criterion for VAT reimbursement and further settlement of issues related to the acknowledgment of advanced corporate profit tax payments during the payout of dividends for 2013.
One more topic of the meeting was the draft Law of Ukraine on authorized economic operators. Olena Makeieva presented a short overview of the draft Law. Vladimir Pisar, the advisor to the EUBAM Mission in Ukraine, who attended the meeting as well, informed the participants of the meeting about support to this initiative of the Ministry of Finance which will really make it possible to simplify customs formalities for diligent businesses and to speed up customs control and clearance.
The parties of the meeting agreed that the US Chamber of Commerce in Ukraine, on behalf of the business community, will jointly with the Ministry of Finance process the issues outlined during the meeting.