If you would like to establish a business or live in Ukraine as an expat, you should have a general comprehension of the country's tax system. Ukraine is one of the EU countries with easy-to-understand tax regiments. This article will provide information that helps you to manage your taxes properly. Proper tax administration helps to minimize unnecessary penalties, which can weigh heavily on your finances.
The Ukrainian Withholding tax (WHT) is an income tax that is paid by the employer (the source), rather than the employee (the recipient), to the government. The term withholding tax is also known as pay-as-you-earn (PAYE) or pay-as-you-go. Every country has its percentage of retention tax.
Over the last few years, Ukraine has made an effort to simplify its laws on starting and operating a business within its jurisdiction. Its efforts saw it ranked the 52nd easiest country to start a business, out of 190 countries.
Before you set up a business, you need to seek legal advice as well as understand the types of companies in Ukraine.
Limited Liability Company