Government of Ukraine Suggests Cutting Income Tax by 1% in 2014
OREANDA-NEWS. December 20, 2013. During the session the Government is to consider realistic and well-balanced draft State Budget for 2014. The Prime Minister Mykola Azarov announced during the sitting of the Cabinet of Ministers of Ukraine.
“The decisions approved yesterday have afforded the Government to elaborate a realistic and well-balanced draft State Budget for 2014 and we shall consider it today. I don’t make a secret that it is indeed the most difficult of 19 budgets, I have taken part in the approval of,” the Head of Government said.
He noted that under conditions of the world recession Ukraine continues a policy of improvement of social standards, increasing salaries, pensions and the level of social guarantees.
According to Mykola Azarov, main attention in the draft State Budget was paid to solving of just social tasks and enhancement of budget support of social-economic development of the regions, resuming of economic growth and competitiveness of the national enterprises, including by stimulating modernization of the real sector, improvement of investment and business climate.
“We have approved a decision to suggest the Verkhovna Rada shorten the income tax by one percent in the following year. The decision is hard but this decision will stimulate investing of funds into upgrade of enterprises,” the Prime Minister informed and added that the principal issue remained realization of the Program of activization of the economy. Implementation of the Program of reforms of the President will be prolonged as well.