The Ukrainian Cabinet of Ministers has drawn up a bill introducing tax holidays for enterprises involved in the production and development of alternative and renewable energy resources, Ukrainian Prime Minister Yulia Tymoshenko announced on February 25.
In a statement Tymoshenko disclosed that the bill would introduce ten-year tax holidays from VAT and income tax for activities linked to the development and production of alternative and renewable energy resources. “Through encouraging the use of these technologies,” she said, “Ukraine will be able to increase the share of alternative energy resources in its energy balance from 0.8% to 25%, and, therefore, replace natural gas.”
According to Tymoshenko the proposals will be tabled in front of parliament this week and enacted ‘as soon as possible’.
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