State Tax Service learns international practice regarding bankruptcy procedures

Press service of the State Tax Service of Ukraine, published 01 December 2023 at 14:25 Chapter: News

New meeting of representatives of the Tax Debt Department of the State Tax Service with the US Treasury Department of the Office of Technical Assistance with assistance of the Ministry of Finance of Ukraine took place within the framework of implementation of the Work Plan for 2022-2023.

Participants, during event, discussed bankruptcy procedure of business entities (debtors).

Particular attention was paid to the liability of payers in case of their insolvency, namely:

- prevention and correction of violations provided for by the Bankruptcy code;

- conducting preventive measures with payer-debtor and settling matters to avoid court proceedings;

- monitoring debtor's compliance with tax legislation during bankruptcy;

- ensuring general protection of the state's interests.

Representatives of the State Tax Service noted importance of cooperation with the Office of Technical Assistance, because its experts have considerable experience in taxation sphere, in particular, in matters related to bankruptcy procedures, learning practice of other countries that have experienced crisis situations.