MPs adopted the law reducing the Single Contribution to 16.4%
The Parliament passed the law that provides for reducing the amount of single social contribution from 41% to 16.4%.
The relevant law "On the reform of compulsory state social insurance and legalization of payroll" №1573 was supported by 268 deputies.
"This is one of the key bills... The current Single Contribution rate is 41%. This is excessive burden on wages and it does not encourage any employee or employer to the legalization of wages," - the Prime-Minister Yatsenyuk said.
He said that the government was willing to take the risk and significantly reduce the Single Contribution - to 16.4%.
However, he said, there are certain risks.
"In the event that international financial institutions have objections to this article, this rule is subject to revision," - the Prime-Minister said.