ІТ-business supports an Exit Capital Tax. But there is a nuance

On July 5, 2018, a bill #8857 “On amendments to the Tax Code of Ukraine regarding the Exit Capital Tax” was registered in the Verkhovna Rada of Ukraine.

The IT Ukraine Association, which is the largest pool of Ukrainian and foreign IT-service companies in the country, fully supports the proposal to levy an Exit Capital Tax. According to the community members, the tax stories outlined in the current version of the Draft will help to significantly simplify business in Ukraine, reduce the cost of fulfilling the tax duty, and introduce effective and transparent tax administration mechanisms by the controlling bodies. Adoption of the bill will have a positive impact on the development of innovation and IT-business as well as on other sectors of the Ukrainian economy.