OREANDA-NEWS. October 05, 2012. At the initiative of the Ministry of Finance and the State Tax Service of Ukraine it is offered to do a few steps to liberalize the taxation of small and medium businesses, as well as to strengthen control over the sale of excisable goods and securities market.

The draft laws № 11284-11285 with amendments to the Tax Code and other legislative acts to improve the administration of taxes and fees have been introduced to the Verkhovna Rada. This was announced by Oleksandr Klymenko, the State Tax Service Head during a briefing at the Cabinet of Ministers.

The state prepares improving a simplified tax system for the small and medium enterprises. Thus, for the 5 and 6 groups of unified tax payers it is proposed to reduce rates from 7-10% to 5-7%. In addition, there has been cancelled limiting the number of employees. Taxpayers of the second group will report not quarterly, but only once a year.

The bill № 11285 also provides a significant simplification of the document circulation when tax administration: the introduction of electronic forms of filling applications about shift to the simplified tax system and simplifying of VAT payer registration through conducting this procedure in electronic form.