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Entrepreneurs appreciate tax relief

Posted by the Editor on January 15, 2014


News / 15 January 2014 | 11:18

Entrepreneurs appreciate tax relief

Entrepreneurs appreciate tax relief

Over 200,000 business entities were registered in Ukraine during 2013, according to government statistics, which show that every 12th entrepreneur is registered in Kyiv, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.
Transition to a simplified taxation, support of domestic producers and other stimulating activities of the government to increase the number of entrepreneurs and boost their level of interest in the development of their own business, and consequently of the Ukrainian economy, show significant results. Last year there were 211,216 businesses in Ukraine, of which 50,255 are legal entities, 160,961 – individuals.
In 2014 the Ukrainian government decided to triple efforts aimed to deregulate conditions for doing business, simplify taxation, introduce new international practices to regulators, which generally will provide entrepreneurs with a complete list of freedoms available in the developed economies.
At present, the Ukrainian capital has become the leader in the number of established small businesses, 13,957 individual entrepreneurs were registered there in 2013. Thus, almost every 12th entrepreneur is registered in Kiev. But the regions also have plans for leadership. Donetsk region practically breathes down the neck of Kyiv region, during the last year small business in the region added 13,884 entities, and the Kharkiv region – 10,597.
Government expert say facilitation of doing business in Ukraine will also be promoted by extension of the moratorium on business inspections, cancellation of the need to obtain a single tax payer certificate. Abandonment of the old model of paper duplication and multiple processes will make entrepreneurship more effective and more progressive. The model of electronic record keeping for entrepreneurs working under a simplified taxation system, proposed by the Ministry of Revenue and Duties of Ukraine, aligns business conditions in Ukraine with the best European ones.

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