Draft Law of Ukraine

"On Amendment and Addition of the Law of Ukraine "On Land Tax"

According to the draft, state tax privileges shall be accompanied by a prior provision of subventions for compensation for losses of profits of local self-government budgets and shall be envisaged in the laws of Ukraine on the State Budget for a respective year.

The draft suggests excluding provisions of the Law of Ukraine "On Land Tax", according to which the rate of fine for untimely payment of rent can not exceed the rate of fine for untimely payment of land tax.

In case of untimely registration of lease agreements for land plots, rent is to be collected from the moment of actual use of these land plots. In case of untimely conclusion of lease agreements, local self-government bodies shall have the right to cancel the decision of allocating land plots into use on lease terms.