Poroshenko submits to Rada bill on replacing corporate profit tax

president.gov.ua

President of Ukraine Petro Poroshenko sent to the parliament a bill on replacing the corporate profit tax with the exit capital tax, aimed to only target the part of profit withdrawn from businesses and suggesting a zero tax rate on the part reinvested.

The president took the decision during a meeting with businesses in Kyiv, having signed the corresponding submission, an UNIAN correspondent reports.

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"The draft law does not create contradictions with our international partners, because it contains a rule that it will enter into force only after determining the compensators of losses to the state budget," the president said.