Prime Minister Arseniy Yatsenyuk stated in his speech before the Parliament on March 28 that, following the revisions to the Tax Code, the number of taxes levied in Ukraine may be cut down to eight.
“We must adopt a new version of the Tax Code, which would provide for cutting down the number of taxes to eight and for expanding the tax base”, he said. According to Yatsenyuk, a draft law to this effect could be introduced in Parliament sometime next year.
“The more simple the tax system is, the fewer opportunities are there for officials to collect bribes”, noted the Prime Minister. As a reminder, Ukraine holds the first place globally in terms of the number of various taxes levied. The World Bank has calculated that Ukrainian businesses pay, in some form, a total of 135 different taxes.Continue reading →