Self-employed persons can provide a tax credit

The Verkhovna Rada of Ukraine registered a draft law on amendments to the Tax Code of Ukraine (on taxation of income self-employed persons). Bill № 8424 from 21.04.2011 referred to the Committee of People's Deputies of the Party of Regions, Vladislav Zabarskim. MP proposes to establish a uniform approach to defining the tax base the tax on personal income by removing discriminatory provisions regarding inability to reduce taxable income self-employed person in the amount of insurance premiums to the Pension Fund of Ukraine, to the Fund of obligatory public insurance, in this regard are invited to present the new edition 164.6 paragraph of Article 164 of the Tax Code of Ukraine. In addition, in order to eliminate discriminatory provisions of the impossibility of using tax credit (Article 166 of the Tax Code of Ukraine) in the form of fees of the health institutions, educational institutions, the implementation of charitable contributions and donations and other documented expenses under Code p.166.2 self-employed person proposed new wording of Article 166, paragraph 166.4.2 of the Tax Code of Ukraine. Also, pursuant to the requirements of Article 4 of the Tax Code of Ukraine offered improved version of article 178, part of the definition of costs directly associated with the receipt of taxable income self-employed person. The proposed wording is similar to the definition of costs to individual entrepreneurs as defined in Article 177 of the Tax Code of Ukraine by applying the provisions of section III of this Code. "The law will bring the provisions of the Tax Code regarding the taxation of income self-employed persons with certain principles of taxation system and to establish a uniform approach to taxation of personal income received as a result of systematic professional self-employed persons, in turn, will resolve the problems arising when application of the provisions of the Tax Code of Ukraine "- said in a memorandum.