LETTER OF THE STATE TAX SERVICE OF UKRAINE

of July 26, 2012 No. 16257/D/17-1215

The State Tax Service of Ukraine considered concerning use of the simplified system the taxation by physical persons by entrepreneurs and reports the following.

Bodies of the State Tax Service of Ukraine in the activities are guided by the Constitution of Ukraine, the Tax code of Ukraine, the laws of Ukraine and other regulatory legal acts of public authorities.

According to Art. 67 and 68 of the Constitution of Ukraine everyone shall observe steadily the laws of Ukraine and pay taxes and fees according to the procedure and the sizes established by the law.

According to Art. regulations 42, of 44, 47 Economic codes of Ukraine of 16.01.2003 No. 436-IV the entrepreneurship is direct economic activity, independent, systematic on own risk, which is performed by subjects of managing (entrepreneurs) for the purpose of achievement of economic and social results and profit earning.

For today there are two systems of the taxation of income gained from implementation of business activity, each of which is regulated by individual clauses of the Tax code of Ukraine of December 2, 2010 No. 2755-VI (further - the Code) and has certain restrictions and benefits, and also different procedure for the taxation of such income, accounting of the income and expenses.

Therefore each physical person - the entrepreneur independently at own will can choose that from possible methods of the taxation most of which of all answers features and conditions of implementation of its business activity.

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