Minister of Finance Nathalie Jaresko meets EBA members to discuss compromise draft of Tax Code

On December 14, Minister of Finance Nathalie Jaresko met members of the European Business Association to discuss the compromise draft of the tax reform which is based on the draft elaborated by the Ministry of Finance taking into account proposals of MPs, business and public.

Presenting the compromise concept of the tax reform, Minister of Finance Nathalie Jaresko emphasized the necessity to sort out overdue problems in the tax legislation, since «the current tax system is complicated, difficult to understand and exposed to biased approach and corruption. It hampers development of business and middle class. Finally, it creates risks for the economy and for our citizens».

«We need not only changes in the legislation and not only a solution for a number of issues, but a comprehensive tax reform which would deliver appropriate tax rates for everyone as well as boost business, employment and prosperity for the country», the Minister of Finance pointed out.

During the meeting the Minister of Finance reported on the key innovations of the draft tax reform and emphasized the importance of further active communication between the government and business. According to N. Jaresko, the Ministry of Finance is open for a dialogue, because cooperation can help meet the expectations of business regarding a fast reduction of the tax burden in Ukraine and at the same time deliver more fairness and transparency to the tax legislation as well as start to remove numerous distortions in the tax regulations.