In the new Tax Code of Ukraine the number of state taxes has been reduced by 11 and the number of local charges - by 9, the head of the State Tax Service of Ukraine Oleksandr Klymenko told the II Ukrainian tax forum, ForUm correspondent reports.

According to him, the new Tax Code also provides for gradual reduction of main state taxes - income tax and VAT.

Klymenko informed small business that the new document announces tax vacations, namely zero income tax, for enterprises with turnover up to three million hryvnias.

In addition, Klymenko noted that the new Tax Code has systemized tax remissions. "Frankly speaking, before the adoption of the Tax Code tax benefits depended on lobbyist' activity of certain groups, which might or might not obtain some privileges. Now the tax remissions are used to stimulate development of strategic sectors, mostly ecological technologies and domestic producers," he said.

The official informed that significant tax exemption has also been given to agrarian sector, aviation and shipbuilding.

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