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 Law abolishing stamps on documents comes into force

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The bill provides for abolishing of obligatory use of stamps for business.

As reported by Censor.NET, the bill No. 1982 VIII on amending certain legal acts of Ukraine regulating use of stamps and seals by companies and individual entrepreneurs came into force on July 19.

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The bill provides for abolishing the mandatory use of seals and stamps while doing business. It is expected that its implementation will help Ukraine to go up by two points in the Doing Business ranking.

The law amends a number of legislative acts, removing references to the mandatory use of a stamp. From today on, the documents are considered valid with a signature of an authorized person.

In addition, a fine of 850 to 1,700 hryvnia ($32.8 - $65.6) is stipulated for extortion by an official of a document with a seal or notarization (the latter in cases when it is not provided for by law).

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The authors of the legislative initiative added in an explanatory note to the bill when submitting it to the Rada that three years ago, a shift from mandatory to voluntary use of seals in business resulted in much confusion.

It has become difficult for entrepreneurs to understand when a seal was needed and when it was not, and this did not prevent officials from demanding sealed documents from entrepreneurs.

The Verkhovna Rada adopted this law as a whole on March 23, 2017. The law was published in Holos Ukrainy governmental newspaper on April 19.
 
 
 
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