Advice Group celebrates its 10th anniversary
A Business Lunch «Tax compromise – Opportunities for Business?» organized by Advice Group took place on 21st August at Atlas DeLux hotel.
Advice Group managing partner Anton Podilchak was the speaker.
Participants had an opportunity to learn about economic, tax and social changes planned by the Government of Ukraine, to assess their prospects and risks for business. Particularly interesting and valuable was to learn about the experience of similar reforms in foreign countries, such as Georgia, Belgium, Argentina, USA and Germany.
But the main topic was the Tax Compromise, it`s application in accordance to the draft law “On Amendments to the Tax Code of Ukraine regarding the features clarify tax liabilities for income tax and VAT in the case of the tax compromise” № 4930 dated 05.26.2014.
Speaker comprehensively investigated possible corruption abuses in tax innovation and the risks to be faced by the business in the case of its usage.
Currently the bill was not adopted by the Verkhovna Rada of Ukraine in the second reading and in general, because of the ongoing debate concerning the size of voluntary compliance undervalued entrepreneurs tax liability. However, it is the most likely that the bill passes and the next year we will know whether the Tax Compromise will be an effective way to prevent financial disaster or another burden for business in Ukraine.