Nearly $ 50 million of foreign investment have been attracted to Transcarpathia in six months

25 October 2012 17:45  5123220 023759
Nearly $ 50 million of foreign investment have been attracted to Transcarpathia in six months

This is 20 million U.S. dollars more than in 2011.
"Among the 600 new legal entities 75 are enterprises with foreign investment. This indicates a favorable investment climate in Ukraine in general and in Transcarpathia, in particular," - said the head of the State Tax Service in the Transcarpathian region Vasyl Ivancho. 
Currently, in the region there are about 900 enterprises with foreign investment from more than 50 countries with a total amount of investment equal to almost 390 million US dollars. 
A specific indicator of the investment climate of the country, which foreign business look up to, is the World Bank study. In the World Bank rating Doing Business Report-2013 the position of Ukraine has increased by 15 points compared to last year from 152 to 137.
Experts noted major achievements in the field of taxation. Thus, in the ranking of tax systems our state has gone up from 181 to 165 position. Significant progress in Ukraine took place in terms of "time spent on tax administration."  Last year, accountants and businesses spent on average 657 hours on tax procedures, now - 491 hours.
With the adoption of the Tax Code there was a significant reduction of taxes and levies, decrease of tax rates, that simplified business conditions in Ukraine. The law provides further gradual reduction of tax rates: income tax rate at the time of adoption of the Tax Code was 25%, today - 21%, in 2013 it will be reduced to 19% and in 2014 - to 16%. The rate of value added tax in 2014 will be 17% - informed the State Tax Service in Transcarpathia.

Tags: investment, tax

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