February 5, 2024

The rating of sustainability of business entities is being formed

On 23.01.2024, the Presidential Resolution “On measures to implement the Sustainability Rating of business entities” No. PP-39 was adopted.

According to the Resolution, starting from February 1, 2024, the Sustainability Rating of Business Entities is being introduced, which provides for the identification and additional encouragement of business entities operating in compliance with legal requirements.

According to the Rating, business entities are divided into the following categories:

– categories “AAA”, “AA” and “A” – high stability rating;

– categories “BBB”, “BB” and “B” – average sustainability rating;

– categories “CCC”, “CC” and “C” – satisfactory stability rating;

– category “D” – low stability rating.

The rating is generated automatically (online) on the electronic platform “Business Sustainability Rating” of the Tax Committee through interdepartmental data exchange. It is published on the official website of the Chamber of Commerce and Industry.

The Chamber of Commerce and Industry, together with the Tax Committee, the Business Ombudsman, and interested departments, was instructed to develop a methodological guide on the criteria of rating indicators within 2 weeks and ensure its dissemination to businesses through the taxpayer’s personal account.

Business entities with a high sustainability rating are recommended annually on the eve of August 20, the Day of Entrepreneurs, to be awarded state awards and the “Faol Tadbirkor” badge.

Tax audits will not be conducted for business entities with a high sustainability rating.

Tax audits are not carried out in the activities of business entities of the “AAA” category (except for inspections conducted in criminal cases), as well as reimbursement (refund) of VAT amounts of this category of business entities is carried out within one day without inspections.

Entrepreneurs with a rating of “AA” and above, working in areas of the 4th and 5th tax categories, can purchase state property and land on more favorable terms. In particular, if you pay an initial payment of at least 15% for a state asset and a non—agricultural land plot, the remaining part can be paid within 5 years (currently 3 years). At the same time, annual interest at the Central Bank’s basic rate is not accrued on the remaining amount.

For business entities of category “A” and above:

– refund of overpaid amounts of taxes (excluding VAT) is carried out within three days;

– the procedure for mutual accounting of VAT amounts paid when importing and selling goods (services) is applied.

The above-mentioned incentive measures do not apply to state-owned enterprises and legal entities whose authorized capital the state share is 50% or more.

Starting from April 1, 2024, subsidies, benefits, and preferences are applied to business entities depending on their rating level.