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Tax reform in Ukraine

Sound tax policy is a key element of Ukraines Government strategy of economic development.

Therefore the reform of tax system aimed at enchancing the competitiveness of the national economy, extirpating the presuppositions for shadow economy, maintaing transparent competitive conditions for legal business and increasing real personal income is one of the top priorities of its activities.

The draft of a new Tax Code is now under consideration in the Verkhovna Rada (Parliament) of Ukraine and is expected to be adopted soon. The new tax regulations will provide, in particular:

The implementation of the new Tax Code will certainly contribute on maintaining and intensification of positive trend in the Ukrainian economy and social sphere, stimulate investments, innovations and domestic demand, clarify many current ambiguities and uncertainties and will lead to benefits for Ukrainian business entities and foreign investors.

For more information, please contact:
Alla Okomaniuk, Press Secretary, or
Ihor Zahlada, Counsellor (Trade and Economic Affairs) of the Embassy of Ukraine
310 Somerset Street West, Ottawa, ON K2P 0J9
Tel. (613) 230-2961, fax (613) 230-2400

2001 11 06