The steps may be small, but Ukraine is moving to a more
transparent and equal tax system.
Late 2015, the Ukrainian parliament (Verkhovna Rada) adopted the
country's main new finance laws. Meanwhile, the state budget
and amendments to tax legislation (as the basis for the budget)
could be classified as New Year's gifts; they were voted on by
parliament on Christmas night and signed by the president on 31
December.
Throughout the course of the year, The Ministry of Finance
discussed tax reform and a new tax code but as the final version
was brought to Parliament so late, little time was left to properly
dissect the plan. As a result, instead of true tax reform, Ukraine
received another version of the current system. Several experts
claim it is for the better, as there were proposals to
significantly reduce benefits for the agricultural sector and
sphere of simplified tax system.
