WB: Ukraine investment attractiveness rankings low because of tax system
2011-12-01 17:30:04
The low position of Ukraine in the World Bank's ranking of investment attractiveness owes to its imperfect system of taxation, Marius Vismantas, WB coordinator for the financial and private sectors of Ukraine, Belarus and Moldova, said during the 2nd Ukrainian Tax Forum.
Ukraine is always in the lowest part of the World Bank rankings, he said, adding, this is mainly due to its tax system. In particular, Ukraine is the 181st out of 183 in the World Bank ranking.
In recent years, according to Vismantas, Ukraine has carried out some improvements in the tax system that would allow it to rise in the rankings in subsequent years.
However, in the opinion of the World Bank representative, to improve Ukraine's investment climate, is not enough to make minor reforms. Ukraine has to make huge steps, Vismantas said, adding, in a sense this is a revolutionary way.