In Decree of President No.5468 dated June 29, 2019, special attention was paid to:
The new edition of the Tax Code introduces a risk analysis program and, in accordance with that, business entities are divided into 3 segments automatically in case of danger.
It is important to note that a new mechanism is going to be introduced for the timely refund or offset of the amount of excessively paid tax by the taxpayer or collected by the tax authority. In other words, the tax authority will pay interest on the amount of the refund for each overdue day to the taxpayer. Foreign tourists will be entitled to refund a VAT based on the “Tax-free” principle. The VAT is cancelled upon the gratuitous transfer of property (services). Enterprises with a state share of at least 50% in their charter capital will pay a single social payment at the rate of 12%.