The 2011 State Budget must be adopted based on the new Tax Code, President Viktor Yanukovych said at the field meeting of the Council of Regions in Bucha, Kyiv region, presidential press office reproted.

The President expressed confidence that despite many drawbacks in the draft Tax Code, its public discussion should be moved to the Parliament and the Code must be approved. "A consensus decision is necessary," President Yanukovych said, adding that the Parliament must consider all the proposals on improving the Tax Code that were expressed during its public discussion.

"The budget must be adopted this year and it must be based on the new Tax Code. This will give Ukraine hope and power to grow," Viktor Yanukovych said.

The President also noted that the adoption of a modern Tax Code is expected by our international partners. This must be the document that meets international standards and creates favorable conditions for investors.

The President also reminded that the new Budget Code was adopted in Ukraine on July 8, which greatly enhances local budgets, provides innovative investment model of economic growth and increases the share of spending on development of the regions. In this context, the President drew the attention of Prime Minister Mykola Azarov to the need to conduct field trainings for financial institutions’ managers on the new Budget Code regulations. "This must be done," Viktor Yanukovych summed up.


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