Clarifications to the law “On corporate income tax”

The law-in-draft, which involves introducing amendments and additions to the law “On Corporate Income Tax,” was considered by the Committee on Agro-Industrial Complex, Industry, Transport, Construction and Natural Resources.

This is another legislative initiative of the deputies of the relevant Committee, which is being prepared for adoption in the second final reading. We are talking about introducing amendments to the law “On Corporate Income Tax”. Parliamentarians propose to prescribe a clearer and clearer definition of the type of procurement activity in terms of agricultural services, taxed at a reduced rate. The law will state that we are talking about income received from the provision of services for acceptance, processing, cleaning, drying, and storage of agricultural products to avoid double understanding of the norm. These services in relation to grain crops are provided by grain storage facilities, granaries, and elevators.

Parliamentarians will consider the law-in-draft in the second final reading in the course of one of the upcoming plenary sessions.