The persons who hold more than one job will no longer have to submit tax returns, Yuri Likii, deputy head of the Tax Service, stated, referring to the tax initiatives adopted by Parliament on July 26, IPN reports.
Yuri Likii said tax returns will be presented only by persons who, having several jobs, will earn money from the sale of assets. “These changes will simplify fiscal administration. Earlier the people who held several jobs had to submit tax returns by March 1. With the introduction of the common income tax rate, this requirement will no longer refer to this category of citizens,” he noted.
According to the functionary, the reduction in tax rates is not expected to lead to price rises. The companies could now work officially and the volumes accumulated in the state budget as taxes, including from the officially paid salary, could increase.
Director of the Market Economy Institute Roman Chirca said the package of tax initiatives and capital amnesty is rather designed to create conditions for the entrepreneurs to obtain concessions in particular areas, but private individuals are also covered, especially those with modest incomes. “The state budget will be reviewed internally. The income tax paid by public servants does not account for a significant part of the budget. The largest volumes of income tax are paid by business entities. The state will lose nothing,” he stated, adding the persons who have modest revenues will have larger disposable incomes.
