Ukraine plans to further deepen the reform of its taxation system in 2004 to stimulate investment and ensure the health of public finances, a senior Ukrainian official said Tuesday.

"We will intensify efforts to tackle the shadow economy. We will pay special attention to the consumption taxes and licensing fees," Olexandr Klymenko, the Ukrainian Minister of Revenue and Duties, told reporters.

Klymenko said Kiev planned to raise the license duties on alcohol, tobacco and some other goods in 2014 to increase budget revenues.

Meanwhile, the government was mulling over proposals to amend its policy regarding the customs value of goods and reduce the number of administrative fees to improve the business environment in the country, he said.

By introducing an online payment system and reducing regulatory burdens, Kiev dramatically slashed the types of tax payments to 28 in 2012 from 135 in 2011. Endit

Go to Forum >>0 Comment(s)