The President of Ukraine signed the Law on Amendments to the Tax Code of Ukraine concerning improvement of the administration of value added tax 643-VIII on July 28, 2015. The new electronic system will enter into force on August 1, 2015.
The system has been designed to make VAT procedures more efficient and transparent and to help counter fraud. It should also reduce the need for VAT investigations by the Fiscal Service. In addition, it will prevent VAT abuse and illegal tax refund claims.
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