In addition, to reduce wait times for VAT registration
The Ministry of Economic Development has elaborated a suite of legislative norms to simplify the registration procedure for business entities and VAT taxpayers, the press-office of the Ministry of Economic Development reports.
For today, the government registration of the business entity is made within five working days, however, the amendments to the Law of Ukraine on government registration of business entities and individual entrepreneurs make it possible to reduce the time by one day.
In addition, some other changes will help streamline the current procedures and simplify going through formalities when starting a business, owing to shortening the time spent waiting for VAT registration. Besides, it is planned to unite the procedures for opening an account with a bank and reporting to tax authorities accordingly.
Please visit the website of the Ministry to get additional information about the said enactments, section Discussion about Draft Projects.
