The Rada cancelled mandatory certificates of completion: what will change for business
The Verkhovna Rada of Ukraine adopted a decision cancelling the binding nature of certificates of completion in a number of cases.
From now on, this document is no longer required if the procedure for confirming the performance of work or services is set out in the contract and payment is made in full in non-cash form.
As it was before
Previously, acts of completion were widely used:
Individual entrepreneurs
companies
contractors
The document was in the standard way:
closing of contracts
proof of income
tax reporting
What will change
After the changes, businesses will be able to more flexibly formalise their business transactions.
In fact, the parties to the contract are entitled to determine independently which documents should be used to confirm the performance of work or provision of services, provided that the requirement for non-cash payment is met.
Context.
The decision is aimed at deregulating and simplifying business in Ukraine, especially for small and medium-sized enterprises.
At the same time, experts advise to carefully draft the terms and conditions in contracts to avoid tax and legal risks.
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