The Cabinet of Ministers plans to review a bill that would create a special tax regime for depressed regions.

"The bill is ready. We will review it at the government meeting and submit it to parliament," Prime Minister Yulia Tymoshenko said today during festivities marking Day of Local Self-Government, official web site reported.

Yulia Tymoshenko also promises changing terminology used in legislation. "I want to even change the name. I don't want for certain communities to be called depressed regions. I want to pass a special law on promising regions and set up a special tax system in these regions for investors," she explained.

According to Yulia Tymoshenko, businesses in these regions that export to foreign markets will be exempt from the export tax, and investors will pay the tax and individual tax according to the mandatory procedure.

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