Government finalizes work on Tax Code

"The work on the Tax Code has entered the final stage. The governmental commission yesterday completed the processing of nearly 5,000 proposals received as a result of truly national discussion of the Tax Code," the prime minister noted adding that the government will insist on considering the Tax Code in the Verkhovna Rada as urgent bill.

Azarov emphasized that the Tax Code provides for a tax cut and contains a number of incentives for innovative development of Ukraine. "The main feature of the tax reform is to encourage renovation, the rules that stimulate innovative development and modernization. We must pass the Tax Code as soon as possible, so that from January 1, 2011, these new rules, aimed at a significant acceleration of economic and social development, enter into force," the prime minister underlined.