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Publication date: 24.05.2024
(Introduction)
On May 14, 2024, changes to the Procedure for the functioning of the single account and compliance with the provisions of Article 35-1 of the Tax Code of Ukraine by the central executive authorities came into force. The corresponding resolution of the Cabinet of Ministers of Ukraine dated May 10, 2024, No. 532, was adopted to bring regulatory acts into compliance with current legislation.
(Purpose of Changes)
The changes were made to bring the Procedure for the functioning of the single account into line with the following laws:
- No. 2801-IX "On Amendments to Certain Legislative Acts of Ukraine Regarding Ensuring the Conclusion of an Agreement between Ukraine and the European Union on Mutual Recognition of Qualified Electronic Trust Services and Implementation of EU Legislation in the Field of Electronic Identification";
- No. 2620-IX "On Amendments to the Law of Ukraine 'On Compulsory State Social Insurance' and the Law of Ukraine 'On Compulsory State Pension Insurance'";
- Laws on "Information Protection in Information and Communication Systems";
- "On Compulsory State Social Insurance against Unemployment".
(Key Provisions of Changes)
(Submission of Funds Movement Information)
According to the new norms, the central executive authorities are obliged to provide information on the movement of funds in the single account each operational day.
(Use of the Single Account by Taxpayers)
Taxpayers are granted the right to use the single account no later than the working day following the day they submit the relevant notification. This contributes to more efficient financial flow management and reduces the risk of payment delays.You may be interested in the following articles: Analysis, consultation, evaluation. legal analysis of the situation, lawyer's consultation, lawyer's consultation, analysis of documents, legal analysis of the situation, written consultation, verification of documents by a lawyer, lawyers' documents, lawyer's help online, lawyer online, legal opinion, legal opinion of a lawyer, lawyer online.
(Explanation by Cabinet of Ministers Representative)
Taras Melnychuk, the permanent representative of the Cabinet of Ministers in the Verkhovna Rada, explained that the changes to the Procedure for the functioning of the single account were necessary to bring it into compliance with current legislation. He emphasized the importance of timely submission of funds movement information and prompt use of the single account by taxpayers.
(Practical Implications for Taxpayers)
Підвищення прозорості та відповідальності (Increased Transparency and Accountability)
Changes to the Procedure for the functioning of the single account will contribute to increased transparency of financial transactions and accountability of taxpayers. Regular submission of funds movement information will enable regulatory authorities to promptly track financial flows and detect potential violations.
Зменшення адміністративного навантаження (Reduction of Administrative Burden)
The changes will also reduce the administrative burden on taxpayers as they will be able to use the single account within more convenient timeframes. This will help avoid delays in financial transactions and ensure timely fulfillment of tax obligations.
Впровадження електронних довірчих послуг (Implementation of Electronic Trust Services)
Harmonization of the Procedure for the functioning of the single account with laws on electronic trust services will promote the adoption of modern technologies in the field of financial control. This includes the use of electronic identification and enhanced security of information systems.
(Conclusion)
The changes to the Procedure for the functioning of the single account, which came into force on May 14, 2024, represent a significant step towards enhancing transparency and efficiency in tax operations in Ukraine. They ensure alignment with national laws and international standards, fostering further business development and ensuring stability in the country's economic environment.
