Company registration procedure in Ukraine will be simplified in 2014

Starting from January 2014, Ukrainian businessmen will have easier business registering procedures.

President of Ukraine, Victor Yanukovich, signed and implemented laws (1. “About the introduction of changes to Internal Revenue Code of Ukraine concerning the registration a s a tax-payer” 2. “About the introduction of changes to National Law of Ukraine “About state registration juridical and physical persons”) that will ease the process of establishing business in Ukraine simplifying registration of physical and juridical persons as tax-payers.

According to data of Ministry of Revenue, starting from next year, registration of VAT or single tax-payer won’t need personal presence of business owner in the Internal Revenue Service. All documents will be accepted into the state register during the moment of registration of physical or juridical person. After this, the state register service will hand the application copy to the Ministry of Revenue without the business owner involvement into this process.

“In the future we plan to give up the certificate of VAT-payer and replace it with the extract from proper register. After the company registration, all data about payer will be posted at the official web-portal of Ministry of Revenue. All business owners will have easy and, more importantly, free access to this portal,” said Alexander Klimenko, Minister of Revenue and Taxes.

According to Klimenko, business owner will get the ability to become single tax payer right after the registration, if he is not a VAT-payer.

Verchovna Rada of Ukraine accepted changes to Internal Revenue Code in the beginning of September, 2013.