The appeal came from Mussa Bazhayev, Russian-based Alliance Group company president, as Mr. Yushchenko received him today, report Alliance-Ukraine petroleum company PR.
Current Russian investment in the Ukrainian economy demands technological imports, which imply huge corporate expenditures on customs duties and value added taxation, explained the Russian businessman.
"As we invest, let say, 500 million dollars, we have to spend another hundred million on duties and taxes. That rules out sizable profits, so I called President Yuschenko to weigh prospects for a tax holiday to involve big-time investors with interests in Ukrainian industrial companies," Mr. Bazhayev said to the media.
The holiday ought to envisage corporate tax exemption for sums spent on production updating or reconstruction within five to seven years, he added.
Affiliate to the Alliance Group, the Alliance-Ukraine is stockholder of the Kherson petroleum processing works in Ukraine.
