01 December 2010

New Ukraine 'Tax Code' is vetoed

Yesterday the Ukrainian President vetoed the new tax code already passed by parliament.
It would appear something new will take place in Ukraine as a result....negotiations with representatives from the electorate. The President has instruction the cabinet of ministers, i.e the Prime Minister to hold talks involving representatives from business and the unions.
Lets hope that it's not just a show and that REAL negotiations can take place and a tax reforms can be introduced that are acceptable to all sides. (But that maybe asking too much also).

It's difficult to imagine any new reforms being ready to be implemented for the planned date of
1 January 2011, but this is Ukraine and the majority of new legislation is usually rushed through without any consultation and very little thought given as to how it will be implemented.

On another note, winter has arrived with the first snow and its getting icy and very cold here.
Many business people I know are already planning LONG winter holidays outside Ukraine or for those who enjoy winter sports they will 'escape' top the mountains in the west of Ukraine.

UIA (Ukraine International Airlines) celebrated their 18th Birthday recently and decided to make a special offer by providing tickets from USD 180 return to over 20 cities around Europe and the Middle East. I hear it has been a great success and many flights are full for the holiday season already.

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