• 15/05/2025 21:47

Ukraine proposes switching to a different business classification system

ByNazar Bogudan

Jul 29, 2024

In Ukraine, they propose dividing entrepreneurs into 5 new categories using a segmental approach as opposed to the sectoral approach that is currently used. This was reported by the press service of the Verkhovna Rada Committee on Economic Development.

Ukraine proposes switching to another system of business classification

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The regulatory framework, according to the initiators of the relevant legislative changes, should include the following categories of economic business entities:

    self-employed, which should include entrepreneurs engaged in individual labor activity (ILA) and independent professional activity (IPA); platform-employed, i.e. interacting with digital platforms; family entrepreneurship; microentrepreneurship (microbusiness); small entrepreneurship (small business).

All of the above categories of economic entities belong to the micro, small and medium-sized business (MSMB) sector.

The purpose of changes in the regulatory framework for doing business is, according to the initiators of this process, to provide certain categories with additional preferences.

This should apply to such categories as the self-employed, platform-employed persons and family businesses.

minfin.com.ua

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