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Ukrainian Lawmakers Approve Tax Reform Plans

by Ulrika Lomas, Tax-News.com, Brussels

15 March 2016


Ukrainian Government ministers have signed off on a list of policy actions for this year, including measures to finalize tax reform in the country.

Last year the Government made structural changes to the tax regime and its functioning. This year, the Government has said it will finalize this tax reform, with measures to improve the business environment, including restructuring the tax authority, the State Fiscal Service (SFS), and pushing the adoption of electronic services.

Earlier the Government said it would look to ensure that the Ukrainian tax system is more fair, including by removing tax officials' discretion on tax matters and implementing electronic processing technologies and services at the SFS. The Ministry has also created a working group, comprised of public and private sector representatives, which will contribute to the development of tax policy.

Overall, the newly approved action plan covers 379 very specific, substantive measures, which cover every aspect of domestic policy. One part of this action plan contains measures to align Ukrainian policies with those adopted in Europe.

Last year the World Bank welcomed improvements to Ukraine business climate in its report on Doing Business, noting in particular tax administrative reforms. In the report, Ukraine's overall ranking improved by four places, to 83rd out of 189 countries.

TAGS: environment | tax | investment | business | value added tax (VAT) | law | enforcement | ministry of finance | tax authority | tax reform | regulation | trade | Ukraine | services | Europe | Tax

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