The state will provide support to people and businesses in case of strengthening quarantine restrictions

The Verkhovna Rada approved bills developed by the Government on the initiative of the President of Ukraine.

In case of stringent quarantine, the following support programs will be in place:

• One-off financial assistance to insured persons in the amount of UAH 8,000. Assistance can be provided to employees who have lost part of their wages due to intensified quarantine restrictions, and to individual entrepreneurs who have lost part of their income due to the ban on full operation.

• One-off financial assistance to legal entities in order to save jobs. For example, if an entrepreneur-legal entity is forced to reduce the working hours of an employee due to severe quarantine measures, he will be able to receive a one-time allowance for one such employee up to UAH 8,000.

• One-time reimbursement of expenses for legal entities incurred for the payment of USC (unified social contribution). Appropriate assistance is provided to those businesses whose activities will be suspended in case of intensified quarantine measures. The amount of one-time compensation will be calculated as the average value of the paid USC sums for ten months.

• Introduction of tax holidays for 200 thousand private individuals of the first group, which exempts them from accrual and payment of a single tax and a single contribution from December 2020 to May 2021.

• Writing-off a tax debt to taxpayers if the total amount of debt for all taxes and fees does not exceed UAH 3,060 and it isn’t repayed as of November 1, 2020.

• Deferral up to one year of payment of tax debts of citizens and self-employed persons in the amount of up to UAH 6,800, which arose before December 1, 2020.

• Writing-off fines and penalties for tax debts, if they are repaid within six months after the entry into force of this document.

• Triple increase (from UAH 1,020 to UAH 3,060) of the tax debt repayment threshold regarding which the tax office will not take corrective action.

• Exemption from taxation of material assistance that citizens and businesses will receive from the state in connection with the intensified quarantine - material assistance will not be subject to personal income tax and income tax.

“We are grateful to the President and MPs for constructive and coordinated actions. The support programs presented and approved are the tools that people and businesses can use if severe quarantine restrictions are introduced. Access to these programs will be simplified as much as possible,” commented Ihor Petrashko, Minister of Economic Development, Trade and Agriculture of Ukraine.