Business news from Ukraine

UKRAINE UP FROM 84TH TO 43RD POSITION IN TAXATION RATING OVER YEAR – STUDY

21 November , 2017  

KYIV. Nov 21 (Interfax-Ukraine) – Ukraine has climbed to the 43rd position out of 190 countries in the Taxation 2018 rating compared to the 84th place in the Taxation 2017 rating.
“The biggest impact on improving the positions in the rating was shown by the reduction of the social security tax from 2017. This had a positive impact on the overall tax burden in Ukraine,” Viacheslav Vlasov, a partner of PwC Ukraine, said when presenting the rating results in Kyiv.
According to the published study, Ukraine, compared to last year’s indicators, has almost twice improved its position – by 41 percentage points.
The rating is determined on the basis of four indicators: the total tax rate, time for submission of reports and tax payment, the number of payments, the index of efficiency of the tax authorities’ work after reporting (post-filing index).
According to the report, the total tax burden in Ukraine is 37.8%, in the European Union 40.5%, while the global figure is 39.6%. Ukraine shows a positive trend in terms of the number of tax payments per year: their number is five, with the average figure in the world being 24, in the EU 12.
At the same time, preparation and submission of tax reports in Ukraine takes an average of 327.5 hours per year, while in the figure in the EU is 161 hours, and the total world figure is 240 hours, according to the Taxation 2018 rating.