Entrepreneurs Allowed Not to Pay Unified Social Contribution for March and April
Such measures will stimulate business during the country's quarantine period.
The Verkhovna Rada of Ukraine has granted individual entrepreneurs a temporary tax holiday on the Unified Social Contribution. It will be in effect during March and April 2020. These changes are set out in the adopted law on state support for business in connection with the introduction of quarantine.
Thus, individual entrepreneurs may not pay the Unified Social Contribution for March: when submitting reports for the first quarter of 2020 (this will happen in April), the contribution for this month can be skipped (its amount is 22% of the minimum wage, or UAH 1,039.06, about $39.6).
In addition, the contribution for April 2020, which must be paid in the second quarter, in July, may also be skipped.
The state will not impose fines for non-payment of the Unified Social Contribution and will credit March and April 2020 toward work experience as if the contribution had already been paid.
No fines will be imposed for late payment of the Unified Social Contribution for January and February either.
The simplifications include:
- Extension of the deadline for submitting the annual declaration of property status (filed by citizens, including civil servants) until July 1, 2020 (the deadline for the annual declaration expires on April 30)
- Tax holiday on land fees (local tax) from March 1 to April 30, 2020
- Exclusion of non-residential real estate from the property tax base from March 1 — April 30, 2020
- Postponement of the mandatory introduction of cash registers for individual entrepreneurs by 3 months
- Ban on tax inspections
Quarantine has been announced throughout Ukraine until April 3 due to the spread of coronavirus, and a temporary ban on mass events and gatherings of more than 10 people is in effect.
Officially, 7 cases of Covid-19 infection have been recorded in Ukraine: 4 in Chernivtsi Region, 2 in Kyiv and 1 fatal case in Zhytomyr Region.
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