OREANDA-NEWS. May 25, 2012. The preferential taxation of IT companies will stimulate growth in the industry which is one of the most promising in the Ukrainian economy. This was announced by Vice Prime Minister of Ukraine Sergiy Tigipko, commenting on the adoption by Parliament in the whole of the Law "On Amendments to the Tax Code of Ukraine concerning the special regime of taxation of industry software products."

"Most countries provide for its IT companies some preferences that foster their development. Ukrainian IT companies are de facto non-competitive in the global market, because they pay very high taxes compared to firms in India and China. The lower tax rates proposed in the law will allow remedy this situation," said Sergiy Tigipko.