13 July 2010, 11:02
The bill (Reg. No6330) envisages recognition of the Law "On Industrial-Finance Groups in Ukraine" as such that lost its validity and introduction of the relevant amendments to the Economic Code of Ukraine and the Law "On Banks and Banking Activity." The bill is aimed at the elimination of the excessive state regulation of the activity of legal entities.
In the course of the Committee it was declared that the existence pf the Law "On Industrial-Finance Groups in Ukraine" adopted in 1996 is purposeless as from the judicial as from the economic point of view.
From the economic point of view the Law is purposeless as its principles, according to the bill authors, define the fact that the general enterprise of IFG (Industrial-Finance Groups) produce final output of IFG, controls sales market, pays taxes in Ursine and is official representatives of the IFG interests. Thus it loses rights on any privileges in taxation matters as it can possess pursuant tot he effective legislation.
In accompanying documents to the bill it is also declared that today the effective legislation of Ukraine provides the formation of the integrated corporative structures, economic entities of different types and quality of organizational-legal forms that is regulated by a number of normative-legal acts. That is today, with the aim of implementation of the state programs on development of prior branches of the industry and structured transformation of the economics in Ukraine there is a legal base, in further for the formation of such structures.