Introduction of RCO is an effective mechanism for bringing business out of the shadow

published 03 December 2020 at 19:16 Chapter: News

State Tax Service of Ukraine notes the high efficiency of introduction from 01.01.2019 of the mandatory use of registrars of calculated operations in sale of medicines in pharmacies by all business entities without exception.

Thus, in connection with legislative changes that came in force in the period from 01.01.2019 to 01.07.2020, an additional 3.8 thousand registrars of calculated operations were registered for use in settlements at pharmacies.

Comparing the tax liabilities of above mentioned business entities during the second half of 2018 (before the introduction of RCO) and the first half of 2020, there is a significant increase in the amount of self-determined VAT by 49.7 billion UAH or 159.8%.

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