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Juscutum Law Firm took part in parliamentary hearings “Arrangement of Favourable Conditions for Development of IT Industry in Ukraine”

On December 14, 2011 deputies, representatives of executive authorities, the National Academy of Sciences and branch academies, leading scientists, lawyers, IT companies, as well as the Juscutum Law Firm, that was only present company, fundamentally specializing in IT-law, took part in parliamentary hearings “Arrangement of Favourable Conditions for Development of IT Industry in Ukraine”

During the discussion of current issues about the development of the IT industry participants paid special attention to two law drafts – № 8267 “On the economic experiment of creation the favorable conditions for development in Ukraine Industry of software products” and № 8268 “On Amendments to the Tax Code of Ukraine on economic experiment of creation the favorable conditions for development in Ukraine industry software products.” These law drafts were initiated by a group of deputies – Evhen Tsar’kov, Viktor Yanukovych and others, offering up to 2016 to held in Ukraine the economic experiment according to which companies-participants will receive specific economic conditions that are similar to those that were created in the leading countries-providers of IT services and solutions. These are:
- a single payment to the state social insurance in the amount of 36.76% from two minimum wages;
- for individuals, salaried employees of a single payment equal to 3.6% of the two minimum wages;
- cancels the VAT from the quarter following the incorporation of the company in the register;
- income tax is set to razmere16% (currently 21%);
- income tax for physical persons employed in the sector, including non-residents – 10% (currently – 15%).

“The changes the law draft identified – it does not men the change of social payment from a minimal salary for two. Today the burden of social charges on payroll stands at about 38%, the bill aims to reduce this burden by setting the threshold for accrual of social contributions the sum of two monthly salaries to be paid when the payment of wages in the three or four or more minimal wages. As well as a bill establishing special baseline calculation of tax on income of individuals and corporation tax. This will create a level playing field with other countries – Ukraine’s competitors on the global IT-market “- says the managing partner of the Juscutum Law Firm Artem Afian.

In general, parliamentary hearings were held successfully. Participants and organizers noted that, perhaps, a very rare of the Verkhovna Rada of Ukraine meetings make such a constructive dialogue between business representatives and government agencies.