War in Eastern Ukraine has already had significant effect at state economy. The inflicted damage is estimated in billion. According to Ukrainian government, tax reform is a way to restore the devastated economy. This would help to attract more foreign investment and offer new business opportunities. Ukrainian government wants to cut the number of taxes from 22 to only 9.
According to Ihor bilous, Head of the State Fiscal Service of Ukraine: ‘Such tax reduction is unquestionably positive for enterprises; it will result in lifting the pressure of accounting, decreasing the number of payments, reports, business inspections, as well as cutting expenses on tax accounting’.