OREANDA-NEWS. December 03, 2010. Government Working Group and representatives of small businesses, operating under the simplified tax system, have signed a memorandum on joint actions coordination concerning the Tax Code.

The signing took place after the talks, another round of which took place.

The Minister of Finance of Ukraine Fedor Yaroshenko represented the Government at the talks.

The parties noted that they welcome the President of Ukraine veto on the tax code.

According to the Memorandum, the parties agreeв that there is the need to create a stable and unchanging conditions for entrepreneurs in Ukraine, which should be appropriately reflected in the text of the Tax Code. In particular, the simplified tax system remains the same as it was before the Tax Code adoption.

The Government and the entrepreneurs have agreed to establish a permanent Coordinating Council for small and medium businesses under the Cabinet of Ministers of Ukraine, and to include the small and medium businesses representatives to councils and boards of government authorities.

However, according to the text of the document the 1 st, 2 nd, 13 th and 14 th section of the Tax Code will bear changes agreed by the Parties.

The parties also agreed that the government would not apply the penalties on pension contributions accrued for December 1, 2010 for entrepreneurs being single tax payers. Till January 1, 2011 the legislation concerning single social contribution is to be finalized.

In addition, the memorandum provides legal guarantees for the participants of the protest.

It also provides that the heads of departments who have made mistakes in preparing the Tax Code would be brought to responsibility.

Thus, the memorandum agreed position on all the issues that troubled businesspersons, in addition the mechanism of participation of entrepreneurs in shaping tax legislation and public control over the authorities’ actions was determined.