DPR Parliament votes for easing agricultural tax treatment

December 28, 2018 15:53

Donetsk, Dec 28 – DAN. DPR People’s Council has endorsed the amendments to the tax law to ease tax treatment of agricultural companies.

Maria Zheinova, head of the budget, finance and economic policy committee, presented the draft law saying that it allows small self-employment companies under 50 ha to choose permanent tax rate of 1.5 percent of monetary evaluation of the land plot payable each quarter, while tax reporting is filed annually.

Companies offering jobs are eligible to pay monthly tax of 1 percent of monetary evaluation of the land plot, filing quarterly reports and paying monthly tax in advance. They ca also choose special tax treatment and pay income tax and turnover tax.

“Income tax requires annual reports and payable 20 percent tax for fiscal year. Turnover tax rate is one percent calculated on cash basis with monthly reports. The amendments cover agricultural horticulture companies only.”

The draft law was supported by 94 MPs and is to be sent to the DPR Head Denis Pushilin for signing.*ot