Ukraine Reduced Corporate Income Tax Rate

Ukraine Reduced Corporate Income Tax Rate

From January 01, 2013 the Ukrainian corporate income tax rate is reduced from 21% to 19%. Some experts believe it will attract more investments to the country.

The Ukrainian income tax rate is due to be reduced again to 16% from January 01, 2014. This will put Ukraine in line with other European countries with the lowest income tax rates: Bulgaria (10%), Romania (16%), Czech Republic, Poland, Slovenia (19%), Latvia and Lithuania (15%).

According to another opinion, only corporate income tax reduction will not affect the country’s investment attractiveness significantly as investors take into account not just tax burden, but doing business simplicity, currency control level, political and economical situation and other factors. However, low income tax rate could provide Ukraine as jurisdiction for doing business with considerable competitive advantage in comparison with neighboring countries.

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