300 government acts are abolished: what will change for Ukrainian business

At the initiative of the Ministry of Economic Development, the government abolished about 300 governmental acts, which had long been irrelevant and only created excessive pressure on business.

This is stated on the website of the government.

The government simplifies the placement of foreign organizations in Ukraine.

"Representations of foreign firms and banks will no longer have to coordinate issues related to the acquisition, alteration or lease of premises, with the General Directorate for the service of foreign missions. If a foreign enterprise and a financial institution want to buy real estate in Ukraine, they can do this quietly without unnecessary licensing. This will further open up Ukraine for international partners and will help attract investment, "said Deputy Prime Minister and Minister of Economic Development and Trade Stepan Kubiv, commenting on the government's decision.

The Government will also propose to the President of Ukraine to repeal Decree No. 436 and decrees that amend it. Today, contrary to Article 133.3 of the Tax Code of Ukraine, tax officers systematically fine entrepreneurs for violating the provisions of Presidential Decree No. 436 "On the application of penalties for violation of the rules for regulating cash circulation." Therefore, in case of termination of the Decree of the President No. 436, fines for:

exceeding the established cash balance limits at the box office;
incomplete capital posting at the box office;
cash outflow from proceeds from sales of products and other cash receipts for
payment of wages;
excess of the established terms of use of the cash given out under the report;
carrying out cash settlements without submitting the funds of the payment document to the beneficiary;
use of cash received in the bank not for the intended purpose.

The government supported the proposal of the Ministry of Economic Development to abolish the need to reassess reserves of minerals every 5 years. Until now, all subsoil users were obliged to conduct a state assessment of the reserves of mineral deposits every 5 years of operation of the subsoil area, regardless of changes in the quantitative indicators of hydrocarbon reserves. The Monopoly right to such an assessment was used by the State Commission of Ukraine for Mineral Reserves. Therefore, the abolition of this rule will reduce the costs of business.

In addition, the Cabinet liberalized the use of cash registers. Now cash registers will be used only if the annual volume of settlement transactions exceeds 500 thousand UAH.

To provide Ukrainian chemical enterprises with raw materials, the government significantly expanded the list of companies (added eight new ones) that receive quotas for the receipt and import of raw materials (such substances as toluene, xylene, solvent, etc.) without paying excise and created a list of enterprises, which receive quotas for the receipt and importation of white spirit without payment of excise.

The mechanisms for customs clearance of goods in ports have been improved to speed up control procedures and minimize the human factor in this process. Earlier, in the absence of pre-submitted electronic information on goods on board the vessel, the port did not allow the vessel of foreign navigation to enter its water area. Henceforth, in the absence of information on goods in electronic form, only the unloading of goods will be prohibited. Unloading is allowed 24 hours after the provision of such information.