The law provides the fulfillment of the following measures:

✅ to extend the period of non-application of penalties for violations of tax legislation committed during the period from March 1 to the last calendar day of the month (inclusive), in which quarantine expires;

✅ to extend the penalty period to the last calendar day of the month (inclusive) during which quarantine expires;

✅ to continue exempting individual enterpreuners and persons pursuing independent professional activity from paying the Single Tax for the period from 1 to 31 May 2020;

✅ to continue the moratorium on documentary and factual checks on the last calendar day of the month (inclusive), during which quarantine expires.

In addition, for the period up to June 30, 2020 (inclusive), the time limits extend for the following:

✅ for an administrative appeal procedure for taxpayer complaints (other than complaints about the lawfulness of declaring value added tax and / or value added tax deductible) received by 30 June 2020, and / or not considered as of March 18, 2020;

✅ to provide the tax authorities with individual tax advice in writing;

✅ to provide taxpayers with answers to requests from control authorities (other than requests from control authorities about the legality of declaring value-added tax and / or negative value-added tax deductions) received by taxpayers June 30, 2020

It is also envisaged to extend the period for banks during which they will be able to reorganize by merger, capitalization or voluntarily cease banking without a legal entity termination until 2024 under the simplified procedure. In addition, reduce the minimum capital requirements of banks from UAH 500 million. up to UAH 200 million due to the necessity of bringing the legislative requirements to the minimum authorized capital of operating banks in Ukraine in line with current economic realities.

We remind that in order to take measures to support taxpayers by reducing business activity, a number of laws have previously been adopted, including:

• On amendments to some legislative acts of Ukraine aimed at preventing the emergence and spread of coronavirus disease (COVID-19);
• On amendments to the Tax Code of Ukraine and other laws of Ukraine on the support of taxpayers for the period of measures aimed at preventing the emergence and spread of coronavirus disease (COVID-19);
• Amendments to certain legislative acts of Ukraine aimed at providing additional social and economic guarantees regarding the spread of coronavirus disease (COVID-19).