Changes into the Tax Code will
contribute to more rapid economic growth, development of entrepreneurship and deshadowing of
the economy. This was stated by Prime Minister of Ukraine Volodymyr Groysman
during the Gov’t session on Wednesday.
"These mechanisms should
trigger faster economic growth", said Volodymyr Groysman, announcing
consideration by the Government of elaborated by the Ministry of Finance of
Ukraine changes to the tax laws.
According to the Head of the
Government, a GDP growth rate can be doubled-tripled through propermanagement, a
favourable climate for investment into employment and the Ukrainian product, as
well as protection of Ukraine’s trading interests all over the world.
The Prime Minister noted that
the planned changes would give an opportunity for the Ukrainian businesses to
operate smoothly.
He considers that so far
investment in Ukraine has been deterred by the fact that the Ukrainian and
foreign entrepreneurs want to have full confidence in the Government, institutions,
legislation, rules for everyone to adhere to – for both the authorities and the
businesses.
"The trust in the
Government on the part of business can be measured by a rather simple indicator
- the volume of voluntarily paid taxes. Therefore, our current objective is to
ensure systems of doing business be European, modern and well-balanced",
stressed Volodymyr Groysman.
Apart from that, changes in
the tax legislation will facilitate deshadowing of the national
economy, stressed the Head of Government.
So, according to various
estimates, over 50% of GDP is currently in the informal economy in Ukraine, he
emphasized.
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