Improvements in the Investment Climate
27.10.2011
- The profit tax will be gradually reduced for all businesses from 23% in 2011 to 16% in 2014. The current 20% VAT rate will be reduced to 17% by 2014.
- Hotel business, alternative energy, light industry, ship building and agrarian machinery manufacturing are exempt from the profit tax for 10 year period (until 2020).
- The electronic tax reporting was introduced in Ukraine; starting 2011 the VAT refund for exporters became automatic.
- In April, 2011, a package of anticorruption legislation was adopted by the parliament, aimed at reducing the corruption burden of businesses.
- Ukrainian Government has established a Council of National and International Investors, representing the Microsoft and other multinational companies.
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