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The Ukrainian business community's demands have been partially satisfied – the Verkhovna Rada, Ukraine's parliament, has passed bill No. 2173a to improve electronic value added tax (VAT) administration. The document prolongs the trial period of the system, which was strongly supported by the Ukrainian League of Industrialists and Entrepreneurs (ULIE).
The ULIE along with the Anti-Crisis Council of Non-Governmental Organizations of Ukraine has on numerous occasions pointed out to the government and state agencies that there were several technical drawbacks of the system and the law on its introduction. The new regulations were widely discussed and participants in the discussions came to the conclusion that the VAT electronic administration system was absolutely raw, imperfect, too expensive, and it also limited the amount of enterprises' operating assets even more, which would completely destroy the entire economy of Ukraine.
The business community demanded the prolongation of the trial period until January 1, 2016. The first two weeks of the system's operation since July 1, 2015, demonstrated that it does not work and raises many complaints among entrepreneurs.
"Businesses don't have to pay for the Ukrainian fiscal service's mistakes with their own assets by removing them from the production process," ULIE President Anatoliy Kinakh said.
Bill No. 2173a prolonged the trial period until October 1, 2015. This term is too short, however the business community hopes that the system's drawbacks will be eliminated.