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.