Government to grant exemption from profit tax

13:30, 09 February 2009
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To enterprises using alternative energy sources

The Cabinet of Ministers initiates granting exemption from profit tax for 10 years to enterprises using alternative energy sources.

The text of the respective government’s resolution #102-r, dated February 4, was posted at the official web site of the Verkhovna Rada of Ukraine.

In line with the document, the Cabinet commissioned the Finance Ministry, the Economics Ministry, the Justice Ministry, the State Tax Administration, and the National Agency for Efficient Use of Energy Resources, to develop and submit for consideration of the Cabinet of Ministers the respective draft legislation.

The government also commissioned the Economics Ministry and the Ministry for Natural Resources to study opportunities of financing projects for use of alternative energy sources within frames of the Kyoto protocol.

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