Investors no longer see tax system a major obstacle to improving Ukraine's investment environment
2012-11-12 15:11:51
Representatives of domestic business and foreign investors operating in Ukraine no longer consider the tax system a major obstacle on the way to improve the investment environment.
These are the findings of a study to define the Investment Activity Index in Ukraine in Q3/2012, conducted by Research & Branding Group at the request of the State Tax Service of Ukraine (STSU), the tax authorities said in a statement on Monday.
"The tax system, compared to the first quarter, is no longer one of the four most serious obstacles to improving the investment climate," said Yevhen Kopatko, the founder of the Research & Branding Group company.
According to him, this indicates that the tax reform is already bearing fruit, although it is not yet completed.
The expectations of the business community on the tax system have also changed. Thus, during the first study businessmen complained about time-consuming for filing documentation to the tax authorities and lack of infrastructure for electronic reporting, however, in the third quarter the active development of the relevant services has made this problem obsolete. Investors now expect a reduction in taxes, documentation and simplified algorithms of tax imputation and administration.
State Tax Service Chairman Oleksandr Klymenko, in turn, ensured that the business expectations coincide with the government's plans for the further development of the tax system.
The second stage of the study for the quality of the investment climate and investment activity in Ukraine was conducted by Research & Branding Group at the request of tax authorities in October 2012. The survey involved 253 directors of Ukrainian, American and European investment companies.