Ukraine. Draft amendments to the Tax Code of Ukraine

The draft law № 2034 dated 17 January 2013 “On the amendments to the Tax Code of Ukraine (regarding the concerning improvement of certain provisions of the Tax Code of Ukraine) was registered with the parliament of Ukraine.

The main amendments introduced by the draft law are the following:

• documentary tax audits should be conducted with the consent of the taxpayer. Under the effective legislation – such tax audits are to be conducted exclusively at the decision of the head of the tax authorities
• unified tax consultations will be registered with the Ministry of Justice, and thus there will be a possibility to appeal decisions in the court if the taxpayer believes that the decisions are not in line with the legislation and 
• the fine for non-accrual and tax evasion in the amount of 75% from the amount of tax is cancelled. Only fines in the amount of 25% and 50% remain in the legislation.

Source: KPMG Ukraine