Change of KVED

KVEDs are economic activity codes which are assigned when an enterprise or an entrepreneur undergo primary registration and define its major but not exclusive activities. KVEDs are entered to the Unified State Register and are stated in extract from it and in a certificate of single tax payer in case an enterprise or an entrepreneur operates under such taxation scheme.

Choice of KVEDs affects not only the sphere of activity but also the taxation scheme and amount of social premium payable by the enterprise. Absence of such code or any mistake in it may cause problems with the supervising authorities and penalties imposed by them.

In the course of business operation, a necessity to amend primary or secondary economic activities may arise. Change of economic activities is subject to state registration, notification of relevant tax authorities, statistical offices and the pension fund. New economic activities are officially assigned to the enterprise only upon their state registration.

On January 1, 2012, a revised KVED (Classifier of Economic Activities) – KVED DK 009:2010 (KVED-2012) took effect. It replaced KVED-2005 which was in force until 31.12.12. New classification is similar to the classification adopted in developed European countries. It allows for structuring and unification of all existing economic activities in Ukraine.

Specialists of ‘KD CONSULTING’ legal & consulting firm will assist in choosing an appropriate KVED and change of it within the shortest time possible.