Deputies propose to return quarterly reporting on USC, personal income tax and military tax instead of monthly
Deputies propose to cancel the mandatory monthly reporting of the EUV, Personal Income Tax and military tax and return to the quarterly form of reporting, which was in effect until January 1, 2025. The corresponding draft law No. 13108 registered on the website of the Verkhovna Rada.
“We return 4 reports instead of 12. What will change? The business will return to quarterly reporting instead of monthly, which has been in effect since January 1, 2025. This will reduce the bureaucratic burden and administrative costs. The initiative was supported by 46 people’s deputies from various factions and groups. Currently, the draft law is being prepared for consideration in the parliament. The state should simplify conditions for business, not complicate them”, – emphasized People’s Deputy Maria Mezentseva, one of the co-authors of the draft law.
We will remind you that in October 2024, draft law No. 11416-d was adopted on amendments to the Tax Code regarding the peculiarities of taxation during martial law, which changed the periodicity of reporting.
“The introduction of monthly reporting by tax agents regarding the amounts of income accrued (paid) for the benefit of taxpayers – individuals, and the amounts of tax withheld from them (including VAT) created an excessive administrative burden on businesses and enterprises, institutions and organizations as a whole.” — note the co-authors of the new draft law No. 13108.
