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Ukrainian parliament passes controversial tax code

© Alexei Kudenko / Go to the photo bankUkraine's parliament
Ukraine's parliament  - Sputnik International
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Ukraine's parliament on Thursday passed a new tax code as amended by President Viktor Yanukovych.

Ukraine's parliament on Thursday passed a new tax code as amended by President Viktor Yanukovych.

Provisions limiting businessmen's right were dropped from the code, Irina Akimova, first deputy chief of the presidential staff, said.

Yanukovych vetoed the bill on Tuesday following harsh criticism and mass protests, ordering the government to amend it.

The tax code was adopted by the Ukrainian parliament on November 18 as part of a national tax reform, but the Ukrainian opposition said it would contest it as a threat to small and medium business.

Currently small- and medium-sized businesses pay a flat tax of 200-600 hryvnyas ($20-75) a month, allowing them to avoid dealing with often corrupt tax officials. Under the new code, all businesses will have to file complex, itemized returns, regardless of their size, which the government says will bring the country extra revenue during economic slumps.

KIEV, December 2 (RIA Novosti) 

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