Changes in Budget and Tax codes was published in “Voice of Ukraine”

The law “On amendments to the Budget code of Ukraine” (No. 2233-VIII) and the law “On amendments to the Tax code of Ukraine and certain legislative acts of Ukraine concerning balancing the budget revenue in 2018” (No. 2245-VIII) published in the “Voice of Ukraine” dated 30.12.2017, No. 249-250 (6754-6755) and are effective from 1 January 2018.

The first, in particular, clarifies the procedure for the formation and execution of local budgets, interbudgetary relations between the state and local budgets, as well as the financing of health and education, social protection of citizens; the establishment of the State Fund of development of water economy and improvement of the provisions on the activities of the State road Fund.

Amendments to the Budget code, effective from 1 January 2018, except for subparagraph 5 of paragraph 37 of section I, which shall enter into force on the day following the date of publication.

Changes in the Tax code, in particular, decide the issue regarding the freezing of tax invoices/adjustment calculations in the Unified register of tax invoices, implementation of indexation of tax rates set in absolute values.

In addition, provides amendments to the rules of duty free import of goods into the territory of Ukraine, including international mail and Express shipments; implemented a number of incentive and preferential rules, including the provision of benefits for certain types of activities and certain types of products; regulate the issue of indexation of normative monetary evaluation of lands of agricultural purpose and so on.

This law also takes effect from 1 January 2018, except for certain items, with effect from the day following the day of publication, from July 1, 2018 January 1, 2019 and January 1, 2025.

Note that the Verkhovna Rada has introduced amendments to the Budget code, necessary for adoption of the budget for 2018. “For” bill No. 7116 voted 265 deputies. 30 Dec Petro Poroshenko has approved the changes.

Changes to the Tax code voted 252 MP, modifications were also signed by the President on December 30.