15 July 2020

Changes in the work of individual entrepreneurs: approved by the Verkhovna Rada

The work of the e-office of the taxpayer, as well as the tax accounting of individual entrepreneurs will be changed in the nearest future. In this way, the state encourages voluntary restrictions on document flow.

The Verkhovna Rada adopted in general the Law “On Amendments to the Tax Code of Ukraine Concerning the Functioning of the Electronic Cabinet and Simplification of the Work of Individual Entrepreneurs” (based on the draft №2524).

In particular, the requirement of mandatory registration of ledger of income and expenditure is abolished, as well as the obligation to keep the ledger of income for PEs of the 1st and 2nd groups (simplified tax system) and of the 3rd group that are not VAT payers is abolished. Such a taxpayer may, at his own request, keep an income book in paper or electronic form. Liability, in the form of penalties for failure to keep or errors in the income book, arises only if such payer has expressed a desire to keep a book of income.