The Cabinet endorsed the bill to implement the common report on salaries and related taxes. The measure is designed to facilitate the work of business entities by diminishing the time and costs associated with the compilation and presentation of reports to public authorities. Instead of presenting five reports to three institutions in different periods of time, the business entities will submit the report FSIC16 to one institution by the date of 25 of each month, IPN reports.

The common report will include the report on the value of income taxes paid; the declaration on the calculation and utilization of mandatory state social insurance contributions; the insured person’s declaration, including the form REV-2; the report on the calculation of mandatory health insurance premiums, and the form 2-03/l. These are regularly presented to the State Tax Service, the National Health Insurance Company and the National House of Social Insurance.

The new norms are to take effect on January 1, 2017. The document is to be submitted to Parliament for consideration.