Ukraine must concentrate on tax reform and widening its tax base, the European Bank for Reconstruction and Development has recommended.
At the organisation’s London meeting, held on 18-19 April, the EBRD noted that the country has already taken important steps towards this end through key legislative actions, such as reductions in corporate and personal income tax, pension reform and a new mortgage law, all taking effect at the beginning of the year.
However, the bank also stated that the country’s future level of investment will hinge on the creation of a stable tax environment, in addition to legal reform aimed at creating an impartial judicial system.
Ukraine secured its removal from the Financial Action Task Force’s list of Non-Cooperative Countries and Territories at a plenary meeting in Paris in March 2004.
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