Volodymyr Lytvyn: The Tax Code of Ukraine will be amended by the End of this Session to unblock the Initiative and support Effective Development of Business
Speaking at the First Economic-Investment Forum "Investment Zviahil" in the town of Novohrad-Volynskyi, Volodymyr Lytvyn, Chairman of the Verkhovna Rada of Ukraine, supplied the following statistical data: for January-March 2011, enterprises and organizations have made a total of UAH 34,5 billion of capital investments into the economic sector. Major share of these investments is directed to the tangible assets. Foreign direct investment as of April 2011 totaled UAH 45,6 billion.
According to the Head of the Parliament, it makes up USD 998 per person. V.Lytvyn stressed that this figure is too low, considering the capacities and potential of Ukraine. He also informed that 25 % investments in Ukraine come from Cyprus, whereas investments from Ukraine, mostly to Cyprus, totaled USD 78 billion. "The most important point is that the country should be stable and predictable," V.Lytvyn stressed. However, he emphasized, "Despite political disputes and confrontations, there is stability."
The Chairman of the Verkhovna Rada of Ukraine deems necessary to provide stability, predictability, and sustainable development. "The country needs energy of development," he stressed.
The Head of the Ukrainian Parliament calls for introducing well-considered amendments to the fundamental acts, such as the Tax Code, to make Ukraine attractive for investors.
According to V.Lytvyn, 40 bills on amendments to the Tax Code have been registered at the Verkhovna Rada so far. He believes that the Tax Code of Ukraine will be amended by the end of this session to unblock the initiative and support effective development of business.