Again, in violation of the principle of the tax legislation stability, on November 14, 2017, the Law of Ukraine “On Amendments to the Tax Code of Ukraine on Balancing Budget Revenues in 2018” was adopted.
As promised earlier at profile events, business generally will not feel significant changes.
At the same time, the rates of rent for the use of subsoil for purposes not related to the extraction of minerals, for special use of water and forest resources, as well as excise tax on tobacco products and the minimum excise tax obligation to pay excise duty on tobacco products were increased.
The Verkhovna Rada hopes to gradually increase the rates of excise tax on tobacco products by 2025 in order to implement the Association Agreement on the approximation of excise tax rates on tobacco products to the minimum level in force in the EU.
We, in turn, expect the lawmaker to be compliant with the generally accepted principles of legal certainty, clarity and consistency of tax legislation; otherwise, to supplement the provisions of the Code on liability of the state for their violation as well.