President Vladimir Zelensky turned to the government with proposals for tax reform, including the definition of clear and understandable tax rules for controlled foreign companies, the development of a bill on a one-time declaration.

This was reported by the press service of the head of state.

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According to the OP, in a letter addressed to Prime Minister Denis snooping, the head of state proposed, together with representatives of business associations and experts, to develop and introduce legislative initiatives in the Verkhovna Rada in order to implement transparent and detailed mechanisms for implementing the provisions on restrictions introduced to prevent tax evasion; defining clear and understandable taxation rules for controlled foreign companies, as well as providing taxpayers with sufficient time to ensure the collection of data and information necessary for the declaration of relevant tax items (subject to restrictive measures related to the worldwide distribution of COVID-19).

Also, according to the President, the amount of fines for certain minor tax violations should be reduced.

In addition, the government should ensure the protection of data and information received by the control authorities for reporting residents of Ukraine on income, in particular, received from sources outside Ukraine, as well as data received from the competent authorities of foreign states in accordance with the law.

It is noted that the issue of criminalizing the illegal disclosure of such data and information should be considered..

In addition, the head of state appealed to the Cabinet of Ministers with a proposal to develop and submit to the parliament a bill on a single declaration. The EP said that these legislative changes should be prepared within three months in cooperation with experts, business and the parliamentary committee on finance, tax and customs policy..

The government should also prepare, with the involvement of business representatives, experts, and people's deputies, proposals on systematic improvement and simplification of tax and tax administration procedures, ensuring clear tax rules, unification and understandability of terminology. The relevant bill should be submitted to the Verkhovna Rada before the end of 2020.