Share Tweet Pocket Add to Bookmarks
You're reading: Tax changes to watch out for in 2013

Thus, 2013 will begin with a reduction in the corporate income tax rate to
19 percent, down from the previous 21 percent. Advance payment of income taxes
for enterprises will also be affected, with monthly advance payments amounting
to at least 1/12 of the accrued tax payable for the previous year.

Particularly noteworthy are the various innovations providing for
preferential tax treatment of some priority sectors of the domestic economy.
One very promising amendment is the establishment of income tax incentives (0
percent) for enterprises planning to modernize their production operations
through investments ranging from 500,000 euros ($665,000) to 3 million euros.
Subject to a number of other criteria, such enterprises can be exempt from
income tax until 2017.

This year will also be marked by the enactment of tax regulations
stipulating preferential conditions for firms operating in the software
industry. Thus, starting from January 1, 2013 and until January 1, 2023 the
sale of software-based goods and services will be exempt from value-added tax.
Furthermore, entities operating in the software industry will see their income
tax rates drop to five percent. However, it should be noted that only those
enterprises meeting a range of fairly stringent statutory criteria (i.e. not
all market participants) will enjoy this privilege.

Exclusive article

Sign up or subscribe to view more articles.
See All Plans
$5.95
Monthly plan
Get unlimited article access, anytime, anywhere.

Subscribe
$60
Yearly plan
Access all the exclusive content on KyivPost.com and the complete online archive.
Subscribe
Advertisement

Add comment

Sorry, you must be logged in to post a comment.
Attention

Add a picture
Choose file
Add a quote
Attention

Are you sure you want to delete your comment?

Attention

Are you sure you want to delete all user's comments?

Attention

Are you sure you want to unapprove user's comment?

Attention

Are you sure you want to move to spam user's comment?

Attention

Are you sure you want to move to trash user's comment?

Spelling error report

The following text will be sent to our editors: