Ukraine To Lower VAT From 20% TO 17-18%.
1 June 2008
As part of the new tax code being drafted by the Tax Administration, the Value Added Tax (VAT) will drop 2-3% from 20% to 17-18%. According to the Chairman of the Tax Administration, Oleksandr Kireev, the new tax code also envisions the reduction of profit tax from 25% to 20% and differentiated private income tax rates. The new tax code is likely to be adopted over the next year and a half.
