OREANDA-NEWS. May 24, 2011. Today, nearly a third of the budget refund is made automatically. The Prime Minister of Ukraine Mykola Azarov said this at the meeting with former Polish President, Chairman of the Supervisory Board YES Aleksander Kwasniewski.

Mykola Azarov noted that in 2011 the Government plans to reach the automatic return of VAT, and for next 4 years to reduce the rate of VAT. According to him, this results sequent of the last year Tax reform.

In addition, the new Tax code has been introduced reducing the total number of existing taxes by half and reduce the basic tax rates. "We have reduced by 2% corporate tax rate for corporations, and now it quite low - 23%. At the same time the Tax Code provides tax exemption of manufacturers that their profits will direct for modernization, energy conservation, job creation", - Mykola Azarov said.

The Prime Minister also said that this year the situation had considerably improved in banking: "Today the level of deposits increased by 20% compared to pre-crisis period. The rate of national exchange was stable in last year, foreign exchange reserves also increased.