Conditional amnesty for entrepreneurs

Parliamentarians adopted amendments to the legislation that regulate the temporary period of work of individual entrepreneurs and legal entities, which is subject to verification by the tax authorities. Clarifying norms were introduced into several laws at once. Proposed by deputies Alexander Korshunov and Vadim Kravchuk a package of legislative initiatives was adopted in the second final reading, following numerous appeals from entrepreneurs.

Tax authorities can carry out control measures no more than once every three years, according to the current legislation. However, the law until now has not indicated which period of work of a legal entity or individual entrepreneur can be checked.

The Supreme Council has taken a number of measures to support the business community over the years. A moratorium was introduced on inspections of financial and economic activities, and inspections by tax authorities were completely suspended during the coronavirus pandemic. The situation has changed.

According to the decision taken in the course of the plenary session, the period of work, which can be verified by the regulatory authorities, is clearly defined now. It is 6 years for legal years, and 3 years for individuals.

The new rules will come into effect on the 1st of January, 2024.