The introduction of the tax on the withdrawn capital instead of the profit tax will stimulate business to reinvest funds into production and development.
This is reported in the Ministry of Finance.
It bears reminding that agrarian associations ask the Cabinet to solve the problem of blocking tax bills.
The government committee reviewed and approved the draft law on imposing a tax on the withdrawn capital.
The main objective of the bill is to introduce the taxation of the profits of enterprises distributed in the form of dividends or equivalent payments, and to refuse tax from the income of non-residents.
In addition, the bill provides:
- change of methodological approaches to taxation of interest for the use of credit received from non-residents - related persons;
- application of transitional provisions for banks entitled to remain payers of income tax until 2020 inclusive;
- exemption from taxation on the deduction of capital dividends that are paid for the period 2013-2017, within the scope of taxable profits from which the corporate profit tax was previously paid.
However, it should be noted that the implementation of the norms of the bill in 2018 will lead to losses of the state budget in the amount of 26 billion UAH and local budgets - 5.4 billion UAH.