Tax on income from OLX and Prom: Getmantsev outlined the benefits of the legislation
The legislative proposal concerning levies on earnings from online marketplaces aims to “lower” the applicable percentage. The Parliament has pledged to remove taxation obligations from the disposal of individual possessions.
The Ukrainian government has presented to the Verkhovna Rada a piece of legislation mandating that internet-based platforms deduct levies from individuals offering services or trading merchandise. Danylo Hetmantsev, chairman of the Verkhovna Rada Committee on Finance, Taxation, and Customs Policy, indicated that this legislation would diminish the present levy from 18% to 5%.
The genesis of this proposed law is associated with conditions detailed in a memorandum of agreement between Ukraine and the International Monetary Fund. Prior to its enactment, Getmantsev remarked, a broad and clear public dialogue will transpire.
As per the official, current Ukrainian regulations encompass a bygone, extant clause stipulating that all exchanges of assets are subject to taxation at the typical personal income tax rate. This is a “severe clause inserted into the Fiscal Code a long time ago,” he expressed.
“It’s simply a fact that no one brought attention to it. No one is eager to concede their involvement. We will never permit any resolution enforcing levies on the exchange of private property,” he asserted.
Getmantsev observed that the pertinent Verkhovna Rada committee “defended the citizens” on this subject. Engagements, feedback collection, and deliberations are underway, yet the “fundamental stance” is steadfast.
