Business news from Ukraine

AGRARIAN MINISTRY, JUSTICE MINISTRY, TAX SERVICE TO PUBLISH CLARIFICATIONS ON LAUNCH OF LAND MARKET IN UKRAINE

In connection with the launch of the land market in Ukraine, which will start working on July 1, the Ministry of Agrarian Policy and Food, the Ministry of Justice and the State Tax Service will publish clarifications on a number of important issues related to the sale of land, Prime Minister of Ukraine Denys Shmyhal said.
“Next week, the land market will start working in Ukraine. From July 1, Ukrainians will be able to exercise their legal right and independently dispose of land plots. In this regard, this week I instructed the Ministry of Agrarian Policy and Food, the Ministry of Justice and the State Tax Service to issue clarifications on the launch of the land market, the work of notaries and maximally assist in resolving issues that Ukrainians may have,” Shmyhal wrote on Facebook on Sunday.
He noted that the government has also made changes to the procedure for maintaining the State Register of Rights to Real Estate, which will ensure the correct sale procedure and the correct disclosure of all information in the register.

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STATE TAX SERVICE CONDUCTS 186 CHECKS OF FILLING STATIONS, IMPOSES FINES FOR UAH 83 MLN IN MARCH

The State Tax Service carried out 186 actual inspections of filling stations, following which it imposed fines for UAH 83.4 million.
“In March this year, 186 actual inspections of filling stations were carried out, as a result of which UAH 83.4 million of fines were imposed. Also, 237,300 liters of fuel from illegal turnover for a total of UAH 5.4 million were seized,” the service said on its website.
As a result of the inspections, the tax office stopped the operation of ten filling stations and seized 40 units of equipment for UAH 4.8 million.
According to the service, among the main violations are trade in unaccounted excisable goods, transitions without the use of payment transactions recorders and sale of excisable goods without licenses. The tax authority also points to such violations regarding fuel storage as the lack of registration in the Unified State Register of flow meters and level meters of fuel in a place for which a license for storing fuel for the own needs or industrial processing has not been obtained.

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UKRAINE’S TAX SERVICE WILL FULLY OPERATE AS SINGLE LEGAL ENTITY FROM JANUARY 1

The State Tax Service will operate as a single legal entity from January 1, 2021.
“From January 1, 2021, the territorial bodies of the State Tax Service, created as its separate divisions, begin to exercise the powers and functions of the territorial bodies of the State Tax Office, which are liquidated as a legal entity,” the service said on its website on Thursday.
The corresponding order was signed by head of the department Oleksiy Liubchenko on Thursday.
According to him, this is the final step in the transition of the service to the format of a single legal entity.
Thus, from January 1, the service will consist of the central office and territorial bodies as separate units, the department added.

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UKRAINIAN TAX SERVICE STATES RISE IN NUMBER OF MILLIONAIRES, 44% OF THEM ARE REGISTERED IN KYIV

Some 4,063 taxpayers declared income in the amount of more than UAH 1 million received in 2017, the youngest millionaire living in Cherkasy is seven years old, the State Fiscal Service has said. “Compared with the corresponding period last year, the number of millionaires this year increased by 559 citizens or by 16%. One citizen declared income exceeding UAH 1 billion,” the press service of the agency said, citing acting head of the service Myroslav Prodan.
The largest number of millionaires, some 2,270 taxpayers, are citizens aged 45 and older, whereas 1,605 citizens at the age of 30 to 45 years declared income exceeding UAH 1 million, and 188 citizens under 30 years. The oldest millionaire is 99 years old (Kyiv).
According to the agency, millionaires received UAH 9.8 billion income mainly at the expense of the item “other income” (additional benefit, interest accrued on deposit accounts at the bank, dividends, etc.), UAH 6.3 billion of foreign income, UAH 3.6 billion of income from operations for the sale or exchange of movable and immovable property, and UAH 2.5 billion of inheritance or received as a gift.
“Almost 44% of the total number of millionaires are registered in Kyiv (1,816 people). Among the leaders are also Kharkiv region with 299 people, Dnipropetrovsk region with 269 people, Kyiv region with 275 people, and Odesa region with 207 people,” Prodan said.
At the same time, according to the agency, the average annual income of one millionaire in Ukraine is UAH 8.2 million.

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