NBU intends to relax collection of funds from taxpayers' accounts with tax debt of over UAH 5 mln

The National Bank of Ukraine (NBU) plans to permit collection of funds from taxpayers' account without a court ruling if they have a tax debt of over UAH 5 million, the central bank has said on its website.

Amendments to rules No. 22 on cashless accounts in Ukraine in the national currency dated January 21, 2004 were posted on the NBU's website for public discussion, amending and giving proposals from individuals, companies and associations.

"Amendments to rules No. 22 envisage bringing the requirements of the document in line with the requirements of Article 95 of the Tax Code of Ukraine. According to these requirements, the funds from taxpayers' accounts in banks can be collected in some conditions, in particular, if their tax debt exceeds UAH 5 million, not only under a court ruling, but also under a decision of the head (his or her deputy or authorized person) of the supervision agency without appealing to court," the NBU said.