BYuT proposes support for small business

BYuT deputy Oleh Liashko has registered a draft law in the Verkhovna Rada that would reduce the tax burden on small business and limit government interfered in business activities.

The bill would free small business owners from paying local taxes and fees and rent for communal property for one year in order to promote the development of priority areas of activities for a particular community.

The document would also simplify the procedure for allocating land plots, state and communal property to businesses for lease without the right to purchase or sublease.

The bill would also give business owners 30 days to address violations without paying a fine.

The bill’s authors also propose that business owners that have no employees and are engaged solely in production pay only local taxes and fees.

It is hoped that the law will promote the development of small and medium business in Ukraine.