In Ukraine, poultry producers are exempted from income tax for 5 years

Published 2021년 12월 4일

Tridge summary

The article highlights revisions to Ukraine's Tax Code, specifically Bill "5600," which impacts poultry producers and farmers. The bill introduces a new tax exemption for poultry producers for the next five years, excluding chicken farming. Additionally, farmers raising poultry, ostriches, and quails will shift from the simplified tax system to the general taxation system. Furthermore, the bill introduces a uniform tax rate for agricultural lands housing poultry farms or those used to support such structures, at 50 units, according to the State Land Cadastre. These changes are designed to streamline tax procedures and ensure a balanced budget, with the bill set to be enacted soon.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Poultry producers were exempted from income tax for 5 years. However, chicken farming was excluded from the list of poultry. Such changes will come into force in connection with the adoption of the Bill "5600" On Amendments to the Tax Code of Ukraine and Certain Legislative Acts of Ukraine to Ensure Balanced Budget Revenues. This was reported by Kurkul.com, writes agronews.ua. Also, farmers raising poultry, ostriches and quails will no longer be able to stay on the single tax. They are transferred to the general system of taxation. During the voting in the session hall, the deputies took into account the 119th amendment, which was not taken into account by the Committee. This amendment provides for the introduction of a single tax for the fourth group: -agricultural lands on which buildings, constructions of agricultural producers (legal entities and individuals) are located, referred to the subclass "Buildings ...

Source: AgronewsUA