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
According to the Head of the Government, a GDP growth rate can
be doubled-tripled through proper management, 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
So, according to various estimates, over 50% of GDP is currently in the
informal economy in Ukraine, he emphasized.