Government has initiated amendments to the Tax Code of Ukraine to change the
codes of types of business operations. The relevant draft Law of Ukraine
prepared by the Ministry of Economic Development has already been approved by
the Cabinet of Ministers of Ukraine.
The draft law is aimed at bringing the rules and
regulations contained in the Tax Code of Ukraine in line with the new codes of
types of business operations.
The new Classifier of Types
of Business Operations approved by the decree No. 457 issued by the State
Committee for Consumer Standards on October 11, 2010. The said decree has
amended the classification applicable to all types of business operations.
2012 has become a
transitional year for codes of business operations, as both the new 2010
Classifier and the old 2005 Classifier were used concurrently.
Starting from January 2013,
the types of business operations must be in line with the 2010 Classifier as
the 2005 Classifier will become ineffective.
law is crucial for continued development of such priority sectors of economy as
agricultural machine building, ship building, aircraft engineering, agriculture
implementation of this draft law will prevent a legal conflict that can emerge
in connection with termination of the 2005 National Classifier.