The Cabinet of Ministers has approved a draft law that will cancel the preferential 2% tax for FOPs and return tax checks

At a meeting on January 27, the Cabinet of Ministers approved a bill providing for the abolition of the preferential taxation system for small businesses, which allows paying only 2% of income, from July 1. This was reported by Taras Melnychuk, the representative of the government in the Republic of Belarus, in Telegram.

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The draft law, among other things, proposes to establish that certain norms apply until the termination or cancellation of the state of emergency, martial law on the territory of Ukraine, but no later than July 1, 2023, in particular:

• the possibility for sole proprietorships and legal entities to be payers of the uniform tax of group III with the application of the uniform tax rate of 2% of the amount of income;
• the possibility for FOP-payers of the single tax of groups I and II not to pay the single tax;
• suspension of document checks;
• suspension of the expiration of certain terms determined by the tax legislation and other legislation, the control over the observance of which is entrusted to the controlling bodies;
• non-application of fines, violation of tax legislation, etc.

Thus, in the case of the adoption of this draft law in the specified wording and its signature by Vladimir Zelensky, small businesses will lose tax benefits from July 1, 2023, even if the war has not yet ended and martial law has not been lifted by that time.

In addition, the moratorium on conducting documentary checks of businesses will be abolished.

At first, the government planned that the benefits would last until the end of martial law in order to facilitate the survival of small businesses during the war.

Source: Ministry of Finance

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