OREANDA-NEWS. December 30, 2010. Tax reform creates incentives for business. The Prime Minister of Ukraine Mykola Azarov declared that at today's press conference for central and regional media.

Mykola Azarov noted that the tax reform reduced the number of taxes: from 29 to 19 state taxes, local taxes from 14 to 4. In addition, according to the Government, already in 2014 the profit tax would be reduced 25% to 16%, and value added tax - from 20% to 17%.

The Prime Minister said that a number of provisions were introduced that would allow the economy to renew, in particular the enterprises would have the right to direct the non-taxable income to the development: energy saving, energy efficiency.

"This is not a game. This is not a show. It is government policy - clearly verified, which will allow Ukraine to update and modernize our economy, because the modernization is the most important tasks of reforms" - Mykola Azarov emphasized.