Anna Vinnychenko became the speaker of the First All-Ukrainian Forum of Tax Consultants

Managing Partner of WinnerLex Law Firm Anna Vinnychenko spoke at the First All-Ukrainian Forum of Tax Advisers, held on June 5, 2014 at the Kyiv Chamber of Commerce and Industry.

As an expert in tax law, Anna Oleksandrivna delivered a report at the session devoted to current issues of tax consulting in Ukraine. She also revealed the main issues of taxing passive income and tax compromise in the topic of the report: “Current tax initiatives: pros and cons.”

In particular, the anti-crisis Law “On Preventing a Financial Catastrophe and Creating Preconditions for Economic Growth in Ukraine” No. 1166-VII was examined in detail, and the latest innovations of “pension tax”, “deposit tax”, as well as the issue of taxation of passive income (including income from deposits) were considered.

A separate sub-theme was the shortcomings of the anti-crisis law on the introduction of a progressive scale of passive income taxation. “The Cabinet of Ministers already predicts the worsening of the economic situation next year as well. But by changing the rules of the game, the government gives no incentive in return. I think the planned tax cuts need to be brought back. It is expected that the new tax rates will adversely affect the investment attractiveness of Ukraine for private investors, and will also force many business owners to return to the old methods of withdrawing profit through sole proprietors (FOP) on the single tax. More sophisticated profit withdrawal schemes will also be in demand, first of all, “non-resident” instruments,” noted Anna Vinnychenko.

The issues of “tax compromise” and “tax amnesties” were also discussed in detail.