It’s easier to do business in Ukraine

According to the World Bank’s new annual rating of Doing Business 2017, New Zealand took the first place among the countries where it is easier to do business, having shifted the former leader – Singapore – to the second place. In total, 190 countries were included in the new list, reported.

Ukraine took the 80th place, having improved its result at three positions for the year. The most significant growth was achieved in the field of taxation – the growth was by 23 steps. The situation regarding the assurance of contracts performance and the protection of investors has been also improved by 18 positions.

Ukraine stepped forward from 30th to 20th place in terms of ease of business activity starting. Also there is noticeable progress in ease of connection to the power grid – from 137th to 130th place.

However, a number of indicators deteriorated in the country: property registration, problems of insolvency, credit availability and international trade. Ukraine’s position on obtaining the permissions for construction remained unchanged.

It should be recalled that World Bank experts calculate this rating, analyzing the country on a number of indicators. The rating methodology annually changes.

It is worth mentioning that the Cabinet of Ministers approved the draft law on amendments to the Tax Code, Customs Code and Budget at the meeting on October 26. According to Oleksandr Danylyuk, the Minister of Finance, there is reduction in the possibility of corruption in the tax system, and it is easier to do business as well as to administrate taxes.

The draft amendments to the Tax Code provides for the revision of the electronic administration system of value added tax (hereinafter – VAT), the introduction of the unified register on VAT refund, liquidation of the tax police as well as reducing the powers of the State Fiscal Service of Ukraine.

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Тема : Новини