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Hennadii Zubko: The local budgets already have resources for infrastructure and social projects
04.08.2016 | 11:21
MINISTRY OF REGIONAL DEVELOPMENT, CONSTRUCTION, HOUSING AND UTILITIES OF UKRAINE

Decentralization is impetus to development of small and medium-sized business in the regions. Today the local budget makes up UAH 77 billion revenue from January 1, 2016. The funds remain in the regions due to the enlarged tax base. These include the income tax, excises, real estate tax, land tax, and the like. All these are the resources for development of infrastructure and social projects. This was stated by Vice Prime Minister/Minister of Regional Development, Construction, Housing and Utilities Hennadii Zubko at a meeting with members of the European Business Association.

According to him, the growth of revenues of local budgets from 2015 to 2016 has amounted 45%. "We have such a figure due to the fact that the tax base was increased. The leaders of the local authorities realized that collecting fair taxes they enable the development of small and medium-sized businesses and in general provide an incentive to the development of territories", said Hennadii Zubko.

 

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