The Government Approved the Procedure for Providing One-time Compensation to Entrepreneurs who Suspend their Activities due to Quarantine Measures

On 9 December 2020, the Cabinet of Ministers of Ukraine approved at its meeting the Procedure for providing one-time compensation to business entities. It defines the conditions and mechanisms for providing one-time compensation for the reimbursement of costs incurred in the payment of a single social contribution to the compulsory state social insurance.

The approved procedure will enable the state to compensate those enterprises that will be forced to suspend their activities due to quarantine measures that can be taken to stabilize the epidemic situation in the country.

To account for relevant indicators, the Cabinet of Ministers approved the Procedure for the formation and maintenance of the Register of recipients of one-time compensation to business entities.

In particular, this procedure defines:

- the requirements for business entities;

- the procedure for submitting and reviewing applications to the State Tax Service;

-  the application form;

- calculation of compensation by the State Tax Service;

- provisions on non-compensation (in arrears in payment of single social contribution).