Changes In Ukrainian Legislation In Connection With The Covid-19 Pandemic

The following are the most important changes for Ukrainian business during the quarantine period:

- a ban on documentary and factual audits from March 18 to June 30, 2020;
- increase of limits for individual entrepreneurs: 1 group - up to UAH 1 million, 2 group - up to 5 million, 3 group - up to 7 million;
- sales of drugs and medical equipment that contribute to the cure of Covid-19 are exempt from VAT for the quarantine period. The list of these drugs and medical equipment is approved by the government;
- import of the above medicines and medical equipment into Ukraine without customs duty;
- waive of payment for land in March (land tax and rent for lands of state and communal property);
- a single social contribution is not assessed nor paid: by individual entrepreneurs (including entrepreneurs on a simplified taxation system), members of farms, self-employed persons from March 18 to May 31, 2020;
- non-residential real estate owned by individuals and legal entities is not subject to taxation by real estate tax in March;
a ban on raising interest rates on loans;
- deferral of filing a declaration of property status and income until July 1, 2020, as well as a deferment of payment of tax on personal income until October 1, 2020;
- extending the deadlines for publishing financial statements with an audit report until December 31;
- tax violations committed from March 1 to May 31 will not be fined, except for the disposition of property that is in a tax lien, violations of the rules for the treatment of fuel or ethyl alcohol in excise warehouses, accrual, declaration and payment of VAT, excise tax, rental fee;
- deferral of the mandatory introduction of cash registers until April 1, 2021.

The Law of Ukraine “On Chambers of Commerce and Industry in Ukraine” was amended so that the fact of quarantine was included in the list of force majeure circumstances. Thus, the legislator introduced the possibility of recognizing quarantine due to coronavirus disease (Covid-19) as force majeure.