Easing business climate: Ukraine Cabinet abolishes over 300 regulations

In particular, the changes will allow raising the limits for compulsory application of cash registers for activities carrying no significant risks; simplifying the procedure for cash accounting; stimulating domestic production of chemical products; simplifying customs clearance of goods in ports and the administrative support of extraction of energy resources; and abolishing outdated regulations.

In addition, a single list of regulatory requirements will be formed in 2018 for each type of businesses, while the controlling bodies will have to synchronize within 3 months with individual standards approved by government, which will allow them auditing businesses despite the moratorium imposed.

Read alsoUkraine in global rankings: Should we expect a breakthroughAs UNIAN reported, the Cabinet of Ministers of Ukraine in late May adopted another package of deregulation measures providing for the establishment of an integrated information database of business audits and their reduction by 15-30%. In the framework of the previous package decision on deregulation, the government on March 10 abolished 100 obsolete regulations in various spheres of doing business in Ukraine.

The Cabinet of Ministers of Ukraine plans in 2018 to introduce a "reasonable" moratorium on business checks, which will allow maintaining a high level of consumer safety and at the same time prevent administrative pressure on businesses. As part of the approach, the supervisory bodies that fulfill the individual working standards approved by government will be able to circumvent the moratorium.

Read alsoUkraine gets four positions up in Doing Business 2018 rankingThe process of economic deregulation in Ukraine has been ongoing since 2014 and involves the abolition or updating of regulations, which will allow maintaining control over certain activities without creating additional barriers. In 2015, in Ukraine, the concept of the so-called regulatory guillotine was adopted, which involves the package passing of important regulatory motions.