Prime Minister Groysman announces small business tax holidays

Prime Minister Volodymyr Groysman says the proposed amendments will simplify life for new businesses.

Prime Minister Volodymyr Groysman recently announced new tax holidays intended to simplify life for small businesses and eliminate barriers to growth.

According to Prime Minister Volodymyr’s Facebook Page, Ukrainian small businesses and entrepreneurs will soon benefit from a more business-friendly tax code. The proposed amendments to the tax code aim to simplify life for new businesses and eliminate the barriers that have prevented small and medium sized enterprises (SMEs) from developing. 

Specifically, the amendments creates a:

  • five year tax holiday for start-up small businesses. 
  • single-registry VAT compensation system.
  • state fiscal service databases housed in Treasury.

Supported by business community

According to the Prime Minister, the amendments have the support of such business associations as: