BUSINESS CONTROL STRENGTHENING INITIATIVES

 The issue of innovations in the tax system is always painfully perceived by the business community, as such changes are usually not aimed at deregulation, but on the contrary - strengthening the control of tax authorities and expanding the functionality of the latter. So, let's analyze the new "ideas" that appeared in September in the field of taxation and corporate relations.

 First of all, it is worth paying attention to another attempt to circumvent banking secrecy by the tax authorities. There have been several attempts to simplify the procedure for obtaining banking information about an entity without its consent. However, they were partially successful, as such permission was obtained only by law enforcement agencies and within the framework of existing criminal proceedings. At the same time, the draft Law № 4073, which amends Article 62 of the Law of Ukraine "On Banks and Banking" № 2121, has been registered in the Parliament and is currently being processed by the committee. The proposed changes stipulate that information containing banking secrecy is disclosed by banks to the central executive body, which implements the state tax policy at its written request for transactions on the accounts of a particular legal entity, individual - business entity or individual for a certain period. time with indication of contractors and payment assignments. CEB implementing tax policy. As you guessed, it is the state tax service of Ukraine.

 Thus, in case of adoption of this bill, the State Tax Service will be able to receive complete financial information about your business without any problems. It is likely that this will lead to the total control of the State Tax Service over all payments of such an entity and will lead to an increase in the number of in-house inspections, which will result in the sending of tax notices of decisions with penalties.

 As for another initiative, the Ministry of Economy has launched a public discussion of the draft Law, which revises the grounds for conducting unscheduled inspections of businesses, while increasing. Yes, it is proposed to introduce:

• audit with the participation of a state body or independent organization;
• the right of controlling bodies to apply to the court in case of obstacles during inspections;
• creation of an institute of public councils for state supervision;
• risk management training;
• the ability of regulatory authorities to stop the production or sale of products that pose a threat;
• increasing the frequency of state supervision of non-risk entities.

In addition, unscheduled inspections will be carried out in the case of:

• detection in documents, state information resources, or notification by an official of a legal entity
  information on violations of the law;
• the presence of a court decision;
• negative audit conclusion.

 In order not to miss the changes in the legislation on business regulation, contact the law firm "Prikhodko and Partners"!