In the new year some of the individual entrepreneurs will be in the shadow: Why work openly became not profitable?

In the new year some of the individual entrepreneurs will be in the shadow: Why work openly became not profitable?

06.01.2017 News

Since the end of 2016 year it has been observed in Ukraine a negative surge of activity among sole proprietorships. It is talking about a mass liquidation of FOP associated with the innovations of the taxation system in Ukraine. Thus, according to the legislation since January 1st of this year, every natural persons-entrepreneurs are undertaken to carry out a monthly payment to the State Social Insurance Fund, regardless of whether the profit entrepreneurship FLP brings.

The minimum amount of the fee is 700 UAH per month. This means that even at low rates of income or total inactivity entrepreneur has to pay the above-mentioned tax. For many FLP this  innovation in the framework of the national tax system was too painful, so in the last months of the past year, the number of business entities in Ukraine has decreased significantly.

According to analysts, the desire of the state to increase tax revenues to the state budget made multiple effects simultaneously. Firstly, it sparked a wave of liquidation of inactive FLP which, avoiding the need to pay tax, discontinued owl legal existence. Thus, at the moment the public service bodies have a relatively accurate picture of the current state of the business environment in Ukraine. On the other hand, such a legislative initiative was a threat to small business representatives. Some businesses have gone into the shade, which is not good for the development of the country.

Also read: «Veni, vidi, vici» or proper realization of business strategy

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