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Ukraine Pursuing Tax Reform

by Ulrika Lomas,, Brussels

29 April 2016

Ukraine should develop a new, simpler tax system devoid of populism, Prime Minister Volodymyr Groysman has said, while stressing that businesses should be given time to adapt to new changes.

Groysman was addressing business representatives from domestic and foreign companies on April 28, 2016.

Groysman said: "We should return to discussions on a new tax system. It should be in a format that is easy to understand and it should be constant. It should not be in a populist way. These are the parameters [on] which we will work."

Groysman said that the idea of tax reform has been discussed with the Strategic Advisory Group and has support from the President. He also noted that the changes will likely be approved by the Parliament.

The Government has lately accelerated its efforts to revamp the country's tax system in line with EU and international best practices. The Government also recently approved three draft laws aimed at bringing about structural reform in the State Fiscal Service, in line with changes proposed by the International Monetary Fund.

TAGS: individuals | compliance | tax | investment | business | value added tax (VAT) | tax compliance | law | individuals in business | tax authority | legislation | tax reform | trade | Ukraine | business investment

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