The government promises to give money to business
The President of Ukraine signed the Law ‘On the Development and State Support of Small and Medium-sized Enterprises in Ukraine’, adopted by the Parliament on March 22, 2012. The main aim of the law, as claims the State Committee of Entrepreneurship which created this bill, is creation of favorable conditions for small and medium-sized enterprises.
The state promises to give credits and micro-credits to new entrepreneurs and provide guarantees and warranties on credits, loans for purchasing and implementation of new technologies, compensation of expenditure for cooperation development between small, medium and large enterprises. Moreover, we are talking about financial, consultation and information support in the field of science and industrial production innovations for representatives of micro, small and medium businesses.
However, such support does not cover weapons production business, tobacco products or alcohol, credit and insurance organizations, investment and nongovernmental pension fund, pawnshops.
The improvement and simplification of keeping records for tax purposes are defined as the state policy main directions in the development sphere of small and medium-sized enterprises in Ukraine. It is also planned to introduce the simplified taxation system, accounting and reporting for small enterprises entities which correspond the criteria which are set out in the tax legislation.