Ukrainian entrepreneurs may be finally exempted from the obligation to use stamps on documents. According to a new draft law already approved by the Cabinet of Ministers, businesses will be able to use stamps only at their discretion, without coercion from the state.
This is reported by Finway
Key Changes for Entrepreneurs and Banks
The changes will primarily affect banking institutions and employer organizations that have so far been required to certify documents with stamps. The government proposes amendments to two existing laws – “On Employer Organizations, Their Associations, Rights and Guarantees of Their Activities” and “On Capital Markets and Organized Commodity Markets.” As a result, the mandatory use of stamps will be abolished in the following cases:
- in the minutes of meetings or conferences where associations of employer organizations are created;
- in the savings certificates of banking institutions.
Completion of Deregulation Reform
The Ministry of Economy, Environment, and Agriculture emphasizes that this initiative is a logical continuation of the reform initiated in 2014 to transition to the voluntary use of stamps. It is expected that the new measures will simplify business operations, eliminate unnecessary costs, and avoid double interpretations of regulations.
“If Parliament supports this decision, entrepreneurs will no longer be required to use stamps – only at their own discretion. This next stage of deregulation will complete a reform that has lasted over 10 years. No unnecessary costs or double interpretations – everything should be simple and convenient for business,” said Sobolev.
The ministry emphasizes that after the implementation of the new changes, the regulatory framework will be almost completely cleared of the requirement for mandatory use of stamps, with minor exceptions.