RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of March 16, 2000 No. 507

About explanation of the Presidential decree of Ukraine of July 3, 1998 No. 727

The Cabinet of Ministers of Ukraine decides:

Explain that in the Presidential decree of Ukraine of July 3, 1998 N 727 "About simplified taxation system, accounting and the reporting of small business entities" (in edition of the Presidential decree of Ukraine of June 28, 1999 N 746:

1) in Article 1 the word "year" is understood as calendar year;

2) in case of submission of the declaration of abandonment of application of simplified taxation system, accounting and the reporting provided by Article part seven 4, small business entity which to transition to simplified taxation system, accounting and the reporting it was not registered by the taxpayer on value added is registered the taxpayer on value added according to the procedure, determined by the legislation;

3) the books of accounting of the income and costs provided by Article part eight 4, in addition turn out small business entity - physical person which carries out trading activity, on each hired worker who is engaged in sales of goods;

4) it is excluded.

5) on small business entities - physical persons, requirements of the Section IV of the Decree of the Cabinet of Ministers of Ukraine of December 26, 1992 N 13 "On the income tax from citizens" do not expatiate (regarding the income from carrying out business activity which is performed according to the specified Decree);

6) distribution of the amounts of the single tax paid by small business entity by the Public treasurer service is not performed.

The small business entity pays:

43 percent of the accrued single tax into accounts of the relevant budget;

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