Ukraine's government wants to ease tax administration / Image from agroportal.ua
Talks are under way to reduce the tax burden on small- and medium-sized enterprises.
Ukraine's Cabinet of Ministers has set tasks to improve the country's position in the World Bank's Doing Business ranking so that it could enter the Top 30 of the 190 countries on the list.
"It is important to make the work of small- and medium-sized businesses as easier as possible, and Ukraine could enter the Top 30 countries by the ease of tax administration. To be among the Top 30 in the world's Doing Business ranking is our aim," Ukrainian Prime Minister Denys Shmyhal said at a Cabinet meeting on May 27.
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In addition, he said, the government continues discussing issues of easing the tax burden on small- and medium-sized businesses, as well as simplifying the procedures to submit documents to regulators.
The prime minister also recalled that the Cabinet had begun discussion of a comprehensive government program to stimulate the domestic economy to overcome the COVID-19 consequences.
As UNIAN reported earlier, Ukraine climbed by seven points in the World Bank's Doing Business 2020 ranking and took 64th place among 190 countries.
Earlier, Ukrainian President Volodymyr Zelensky said his team would make every effort to ensure that Ukraine could enter the Top 10 of the Doing Business ranking in three to four years.
UNIAN memo. Doing Business analyzes the investment climate in 190 countries. This is the result of an annual study evaluating the ease of doing business. The World Bank has been calculating this index since 2003. Doing Business covers 12 areas of business regulation. Ten of these areas – starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency – are included in the ease of doing business score and ease of doing business ranking. Doing Business also measures regulation on employing workers and contracting with the government, which are not included in the ease of doing business score and ranking.
Ukraine is one of the Doing Business leaders among 190 countries in terms of growth rates.