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Ukrainian President Viktor Yanukovych appreciates the government’s efforts aimed at successful implementation of reforms designed to strengthen the country's small and medium-sized businesses.
According to the president, Ukraine has created favorable conditions for business activities, a simplified system of taxation, accounting and reporting, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
The Cabinet of Ministers has made significant progress in enacting fiscal reforms. The rate of corporate income tax has been reduced, unified social tax has been introduced, the total amount of taxes and fees has been decreased, procedure of tax administration has been simplified and service centers of State Tax Administration have been created. "Citizens of Ukraine are not afraid to open their own businesses and engage in economic activities," Yanukovych said.
The progress made in the simplification of business conditions is evidenced by the annual Doing Business ranking established by the World Bank and the International Finance Corporation. Its latest results were published on Oct. 29, 2013.
If last year our country was ranked 137th among 185 countries, this year it was ranked 112th among 189 ranking participants (i.e. Ukraine moved up by 28 positions).
Ukraine has made the most progress in the field of building permits (the country has moved up from 183rd to 41st place), and ownership registration (where Ukraine has moved up from 197th to 97th place). Ukraine received is best result (13th place) for the ease of crediting. In this respect, Ukraine even outran such a developing economy as Brazil.
Experts point out that Ukraine has also made substantial progress in simplification of business conditions. The country carried out a large-scale streamlining of regulatory authorities, reducing the number of permits by almost 9 times (from over 1 200 to 141). These documents are issued in permit centers according to a "single window" principle. The number of licensed businesses was improved by 30%.