The Verkhovna Rada, Ukraine's parliament, at a meeting on Tuesday completed the consideration of amendments to the first section of the draft Tax Code, titled "General Provisions," and approved this section.
In general, 649 amendments were proposed for the first section of the document.
The Verkhovna Rada on Tuesday began to consider the draft Tax Code at second reading through separate voting on its amendments. Most MPs supported a proposal by Parliament Speaker Volodymyr Lytvyn to work until 22:00 on Tuesday and take a break from 14:00 to 16:00.
The parliament adopted the document at first reading on Oct. 7, 2010.
The "General Provisions" section foresees that the document regulates relations in the sphere of taxes and duties, in particular, it defines an exhaustive list of taxes and duties, the mechanism of their administration, taxpayers, their rights and responsibilities, the competence of controlling bodies, the powers and duties of their officials during tax controls, as well as penalties for the violation of tax laws.
In addition, the section specifies a list of terms used in the document.
