A parliamentary committee removed a provision from the bill that would have restricted PEP status
The Parliamentary Committee on Finance, Tax, and Customs Policy reversed its earlier decision to include in Bill No. 15112-1 a provision limiting the status of a politically exposed person (PEP) to three years after the end of their term of office.
This was an initiative intended to accompany changes regarding the taxation of parcels valued at up to 150 euros and, as planned, to strengthen support for the bill among lawmakers.
This was reported by the committee’s first deputy chairman, Yaroslav Zheleznyak.
"Following a discussion between the ruling 'Servant of the People' faction and (Deputy Prime Minister for European and Euro-Atlantic Integration) Taras Kachka … it turned out that (this) violated our obligations. This was obvious," wrote First Deputy Committee Chair Yaroslav Zheleznyak (Voice faction).
According to him, this provision was replaced with another: "Until EU membership is achieved, fines for banks for PEP violations have been suspended."
“In other words, banks won’t be afraid to violate PEP regulations and should become more reasonable in their approach to such individuals. I didn’t vote for the first version, and I’m not voting for this one either… Not because of PEP, but because of the very essence of the law on parcels, so good luck,” Zheleznyak noted.
Bill No. 15112-1 on the taxation of e-commerce transactions with value-added tax (VAT), which provides for the abolition of the VAT exemption for international postal shipments valued at up to EUR150, provides for the abolition of lifetime status for officials of international organizations, limiting it to three years after resignation.
As reported, the bill introduces a new model for taxing parcels valued at up to EUR150 purchased through electronic interfaces (platforms), where the obligation to calculate and pay VAT falls directly on the marketplace or its intermediary if the company is a non-resident. At the same time, marketplaces are exempt from issuing tax invoices and filing returns for such transactions, but are required to maintain detailed records of them. In cases where the seller is a non-resident, the tax amount will be determined in euros or U.S. dollars, and the date of the tax liability will be the day the funds are received from the buyer.
For non-commercial shipments between individuals, parcels valued at up to EUR45 are exempt from VAT, provided they are free of charge and intended exclusively for personal or family use.
Draft Law No. 15112-1 is part of the structural roadmap for the new program with the International Monetary Fund (IMF).
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