Financial groups dismember a three regulators

Financial Group will fall under close scrutiny. The Verkhovna Rada registered a draft law which will give the National Bank, State Commission on Securities and Stock Market and the Commission to regulate the financial markets with special powers. The three regulators will assess not only the one directly accountable to the structure, and all companies that are included in the financial group that owns and controlled by the controller structure. Victoria Boiko for UBR.UA Fingruppy closer to Europe Adoption of the law is neizbezhnm sure Oleg Marchenko, managing partner of law firm: "This is a requirement of the IMF. It aims to strengthen the stability of the financial system of Ukraine. Such restrictions exist in many countries." "Ukraine has committed itself to under the Memorandum of Economic and Financial Policy in the framework of stand-by. And the goal - bringing the Ukrainian legislation to European Union standards. In fact, this law provides for the consolidated supervision of financial groups. Thus, the legislator is trying to divide the financial institution, -supported counterpart Sergei Vasilishin, a partner at the law firm. According to the document, all financial groups are divided into bank and nonbank. Determine this status to the main activity, which predominates in the group. If the dominant banking activities, the group will be supervised by the National Bank. If - other agencies, the non-bank. "The banking financial group is a group in which banking is prevalent at 50 percent or more.

Laundering: the preventive measure

Position Statement on the application of measures with respect to countries that do not perform or improperly perform the recommendations of international, intergovernmental organizations, determined that the subjects of primary financial monitoring must take measures on prevention of legalization (laundering) of proceeds from crime or financing terrorism. These subjects include: insurers (reinsurers), pawnshops and other financial institutions, corporate entities, in accordance with legislation providing financial services, payment organizations and members of payment systems. Collaborating with customers from high-risk countries, such entities should be strengthened to ensure identification and to find out more information about the client. In this case, the subject of initial financial monitoring has the right to refuse to hold risky financial transactions. Disposal of the Financial Services Commission of 11.11.1910, № 857 will come into force after its official publication.

Profile Committee approved a bill on the construction

Parliamentary Committee on Construction, Urban Development and Housing approved for consideration by the Verkhovna Rada the draft law "On regulation of urban development." This was the first deputy chairman of the State Committee Galina Yatsishin, the press service of the committee. "This paper removes many of the administrative barriers in the construction industry. Get permission to start construction after the adoption of this bill will be much easier. This process will not take half a year as now, a few months. Developers are likely to be spent on registration of licenses and permits less money, so in the end, the law should reduce the cost per square meter, "- said Galina Yatsishin The bill, which was involved in the development of the State Committee, reduces the number of permits and conciliation with 93 -x to 23, and the deadline for receipt of permits - from 415 to 60 days. Also, the draft law proposed to introduce the declarative principle for construction of low-risk (for objects with a high degree of risk such a rule would not apply). Declarative principle implies that the construction company will be sufficient to provide documentation of a standard pattern. Now, the procedure for obtaining permits for construction will take about 1,5 years. Coordination of all services, according to the bill, will be held at the stage of the general plan. Accordingly, if the master plan envisages the construction of a certain area houses or shops, then additional permits for construction will not have to receive it.

The list of activities with a high degree of risk can reduce

The State Committee for Regulatory Policy and Entrepreneurship is opposed to unwarranted increase in the list of business entities with a high degree of risk, which, respectively, more likely to undergo inspections by regulatory authorities. Informs the press service of the committee. The Committee rejected the negotiations of Gospotrebstandart draft government decree in which the production and sale of products that are not a big threat to the state, society, health and lives of people, was attributed to a high degree of risk. In particular, under the draft regulations, manufacture and sale of office supplies, sanitary rubber products or services campsite had to belong to a high degree of risk. However, according to experts of the State Committee, the assignment Gospotrebstandart majority of business entities to the high risk did not affect the quality of products and services. Therefore, the State Committee recommended the move to medium or even low-risk activity for the production and sale of work clothing, underwear, household appliances, water filters, heating boilers, wholesale kitchen linens and blankets, repair services for automobiles, etc. The project Derzhspozhyvstandard data types economic activities have a high degree of risk. Observations on improper classification of a number of activities to a high degree of risk, the State Committee has repeatedly expressed in previous decisions to refuse. Despite this, Gospotrebstandart some of them are still not taken into account.

Deliveries of equipment for airports freed from VAT

The Verkhovna Rada of Ukraine registered a draft law to amend subsection 2 of section XX "Transitional Provisions" of the Tax Code of Ukraine (regarding exemption from VAT the supply of equipment for airports in cities hosting the championship). The bill № 8278 from 22.03.2011 passed to the committee deputies from the Party of Regions, Alexander Zatsom and Andrei Pinchuk. In particular, it is proposed to 1 September 2012 to exempt from taxation on the value-added operations to supply and importation into the customs territory of Ukraine of equipment necessary for equipping and operation of airports in cities participants in the Euro-2012. Expediency VAT exemption by the fact that the said equipment will be used exclusively for the needs of the airport, and will be used only in its territory. The practice of exemptions from VAT when purchasing equipment for the airport is a very common and is used in all European countries, because the airports are duty-free zones.

Cigarettes to rise more alcohol in 2011

Since the new year tobacco and alcoholic beverages will rise in price due to the entry into force of new higher excise duties on this product. However, for some reason cigarettes are stronger than the rise in price of alcohol, experts say. "Through tax reform, the government adhered to the principle of neutrality of income. That is, if somewhere taxes are reduced, then somewhere compensated for an increase, for example, increased excise taxes," - said in exclusive comments UBR.UA Natalia Leshchenko, an economist at the Bureau of Economic and social technologies. However, according to her, do not expect that the prices of excisable goods will increase commensurate with the increase of excise duty. "This margin is always split between the buyer and seller, but a definite increase in prices is bound to be.'s Hard to say how much prices will rise to this group of products, but you can predict that tobacco prices will increase by more than alcohol, as this is more inflexible products - from cigarettes harder to give up, like go to another, cheaper brand. Accordingly, the alcohol will rise in price is less, "- says Leshchenko. Recall, the Verkhovna Rada approved the rates of excise duty on alcohol, alcoholic beverages and cigarettes, which should enter into force on 1 January 2011. According to the document, the excise rate on cigarettes with a filter to be increased from 90 to 96.21 hryvnia / thousand units, non-filtered cigarettes - from 40.25 to 43.03 hryvnia / thousand units.

The tax loophole was opened for legal entities

Independence has made adjustments to the fate of the Tax Code, and the President left the simplified tax system in the form in which it operated until the tax reform. Making for businesses operating on a simplified system, there was legislative conflict, allowing to minimize taxes. "The president and government have gone in the wake of the Maidan, and left the simplified tax system, as she was. And the Tax Code does not provide for such management entities, so that now a legal entity, such as accounting or auditing firm, which on a single 6% tax, and which in addition to 6% should not have to pay VAT, "- said in an exclusive comment UBR.UA Dmitry Alekseenko, CEO of the audit company. "In the Tax Code, these services (legal, accounting, auditing, etc.) are not subject to VAT. And so, this company will pay only 6% of the turnover tax is extremely low amount, just the tax hole in which is now all gone. absolutely unfair to small businesses. And for all the major constraints were related to non-residents, the closure of all offshore companies, etc. A small business is all gone in the "hole", - said Dmitry Alekseenko. Recall, Friday , December 3, President of Ukraine Viktor Yanukovych signed the Tax Code adopted by the Ukrainian parliament on Thursday, December 2, taking into account the proposals made by the President.

How to go on the tax breaks?

Business is well heard about the possibility of leaving the tax holiday, if it fits the criteria of article 154 of the Tax Code, "Exemption from taxation." But have not yet developed a mechanism of how to carry out this procedure in life due to lack of regulatory and legislative framework. Underwater rock one - yet there is no mechanism left to tax holidays. He needs to develop the Ministry of Finance, considering that now is the administrative reform and tax administration are considering to reformat the tax office. Internal Revenue Service will not issue regulations, it will deal with the MOF, the development of the whole regulatory framework. Where to go, what mechanism in the Code do not spelled out, is the criterion for tax holidays, there are principles, there are nuances, "- said Dmitry Alekseenko, CEO of the audit company. According to him, companies that fall under the tax holiday, rent accounts on a quarterly basis rather than once a month. That is, it's not reporting, and simplified tax calculation. In order not to make a declaration with all the costs of a few pages, there is a simplified tax calculation, which is approved by Cabinet, not the Tax Administration as before. "The Code was published on Saturday, and a code is not zapishesh all the nuances, the overall mechanism for each payer. That is now over two weeks the Ministry of Finance will need to develop a regulatory framework. Moreover, Azarov gave instructions to establish centers to raise awareness of the Tax Code, to conduct seminars and training, etc.

Big business - in anticipation of international accounting standards

Big business expects that with the introduction of new tax legislation will be adopted and international standards of accounting, which are understandable to investors and bankers around the world and relieve the business from accounting to double standards. "Accounting standards are either national or international. And if such political will to introduce international standards as national ones, the accounting will be easier. It is a big business that goes to the global capital markets, loans of international banks in their Anyway there are accounting to international standards, because to raise capital, we need audited financial statements according to international standards. That is, they are here such records and records according to national standards, and they are tax records. If there is a choice, for big business will be at least one account. Our national standards exclusively for reporting and international brings them money, and it understandable to investors and bankers around the world. Now they want to change the law on accounting. For what would be January 1, significant public companies (banks , insurance companies, etc.) have entered the international standards ", - said Dmitry Alekseenko, CEO of the audit company. According to him, there are companies that are not yet ready to work on these standards. "If their accountants are not aware of these standards, but if you accept the rules of what they are all over the world (even the U.S. next year goes by its standards on international ones) will become easier.

Business Against Tax: measure victory

Business demands heard. Key conflict issues around the tax code as if resolved. What we have in the dry residue in an exclusive interview UBR told Oksana Prodan, chairman of the Council of Entrepreneurs under the Cabinet of Ministers of Ukraine in 2008 - 2010 year. UBR: The President in his remarks to the Tax Code removed the exclusionary rule. Nevertheless, there is dissatisfaction and that. What is your assessment of those standards that we have received as a result of voting on December 2? OP: I want to congratulate all entrepreneurs, especially small businesses that are able to ensure that the simplified system will remain and will work next year and hopefully in the future. That - largely because in the Code, which was before the supposed practice of its destruction. Entrepreneurs were able to prove its position and will now be able to work on. This - the main thing. Indeed, were adopted by the Verkhovna Rada of the comments of the President, which simplified the system is virtually in its entirety, and remains for the future is what it is today. There are only a few rules that will be a little tougher than it is today. Just do not have to be up to 500 thousand cash registers. Will not have to cost accounting, but will have a mandatory pension contributions to pay those who have. And a separate question, which we will finalize. Will not be allowed to take on the costs of those payments, which will be the payers of income tax in favor of natural persons - entrepreneurs. That is, if the payments are made in favor of legal entities on a single tax, the payments will be taken for expenses if the payments to individuals on a single tax, it will not do so.