The Finance Ministry has completed the preparation for the introduction of luxury and transfer taxes, finance minister Yuriy Kolobov told during a conference organized by the Taxpayers Association of Ukraine, ForUm correspondent reports.

According to the minister, in particular, the procedure of transfer pricing can be implemented in the near future. "On this issue, we attracted such a reputable company as PricewaterhouseCoopers together with the Tax Service. And we have already held discussions with big business. The best international practices have been involved, and clear proposals have been issued," the official noted.

Kolobov added that the new Tax Code has reduced a number of taxes from 43 to 23, and the income tax has been reduced as well, and it will be reduced to 19% in 2013. "Our main goal is a reduction of the pressure on businesses. If the business has more profit, it will pay more taxes," the minister said.


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