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Changes in tax and customs law in relation to
the revision of certain tax benefits (Draft Law No. 7418)
EY Tax and Legal Practice
Kyiv, Ukraine, Fri, Jun 24, 2022
On 21 June 2022, the Parliament of Ukraine voted for the adoption of a Draft Law ‘’On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine in relation to the revision of certain tax benefits’’ № 7418 dated 30 May 2022 (hereinafter – the ‘’Draft Law’’). Currently, the Draft Law has been submitted to the Head of the Parliament of Ukraine for signature.
The Draft Law amends and supplements the special taxation rules for the period of the martial law in Ukraine to provide conditions for the proper functioning of the economy, as well as proper filling of the budget revenue due to the receipt of customs duties.
Our analysis is based on the Draft Law No. 7418 dated 30 May 2022 and the provisions of the adopted Law may differ from the Draft Law, thus, would require revision.
Below we outline key changes that are expected to be introduced to the tax and customs legislation by the respective Draft Law.