Arseniy Yatsenyuk: The Government offers to reduce tax rates by including changes into current law and to enact a new tax code after broad public discussion

The Ukrainian Government proposes to the Parliament to adopt in the first reading the redaction of the Tax Code which was elaborated by the Cabinet of Ministers, to finalize the government's bill and to put it into effect during 2016 after a wide public consultations. This was stated by Prime Minister of Ukraine Arseniy Yatsenyuk in his address to the Parliament before introduction of the draft budget and tax changes on Thursday, December 17.

He stressed that the Ukrainian Government commends the work carried out by the MPs of Ukraine in the preparation of the new edition of the Tax Code: "I believe that the members of the Ukrainian Parliament would appreciate in the same way the six-months’ work to prepare a new edition of the Tax Code of Ukraine".

Arseniy Yatsenyuk announced that the Government proposes to introduce new tax rates and make the necessary changes in the current Tax Code from January 1 of next year.

"We offer that the Ukrainian Parliament in synergy with the Government of Ukraine should finalize the draft governmental changes and enact them neither from 1 January or 1 February, but after our long discussions, after wide public discussions, after the Ukrainian business is prepared and the Ukrainian business accepts these tax changes to bring them into force during 2016," said Arseniy Yatsenyuk.