Prime Minister Mykola Azarov instructed government members to accompany consideration of the Draft Tax Code in the Parliament, and to start development of normative documents that will be necessary following adoption of the document for its coming into force, UKRINFORM reported.

Opening the government meeting, Azarov noted that the Draft Tax Code submitted to the Verkhovna Rada on September 21, contains "500 pages of coordinated legislative norms instead of 4,000 uncoordinated and contradictory normative acts."

The Premier expressed conviction that the tax reform inevitably leads to an accelerated economic growth and the people's prosperity. According to him, the Tax Code will lead to liberalization of legislation, it will stimulate investment-innovation development and will create equal conditions for all market participants and equal conditions for taxpayers and the state.

At the same time, the head of government forecasts temporary budget losses following endorsement of the Tax Code. It is necessary to understand that "prosperity and welfare" will not come the next day following adoption of the new document.

"There will be temporary losses of the budget that we will cover by resources, we accumulate them now, there will also be complex daily work on the economy recovery and formation of an absolutely new civil tradition," the Premier noted adding that today about half of Ukraine's economy is in the 'shadow.'

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