The government reports
The government of Ukraine will work out the provisions to be included into the Tax Code of Ukraine in 2014, and is going to approve this draft law no later than 2015. An absolutely new fiscal system is planned to start functioning in Ukraine in 2016. These changes have been initiated by the Cabinet of Ministers of Ukraine. The Prime-Minister of Ukraine Arzseny Yatsenyuk has shared the information on the government plans concerning the fiscal policy.
The new code will reckon with the simplified procedure for administration of taxes. The local authorities will get the right to keep records and manage the resources at their disposal.
Additionally, the Prime-Minister offers to enter the changes to the Budget Code and trigger the creation of new inter budget relations, when the local bodies are granted not only powers but receive also financial resources.
