World Bank: Business in Ukraine began to spend less time on taxes and export-import transactions


Time costs of tax compliance decreased at 101 hours. If last year the taxpayer spent on tax procedures 492 hours per year , as of June 1, 2013 – 390. The data contained in the annual survey Ease of Doing Business – 2014.123

World Bank experts have noted that the reduction in time was possible by simplifying the returns for VAT and USC and improvement of electronic reporting. According to the study, annual tax rate in Ukraine has decreased from 55.4% to 54.9 %, the number of payments remained the same as last year – 28.

The experts of the World Bank also noted the improvement of customs administration in Ukraine after the introduction of the new Custom Code. The study indicated that Ukraine has made international trade easier due to more rapid clearance of customs declarations and reduce the physical inspection of goods. In particular , the time required for import of goods in Ukraine, reduced from 33 to 28 days, exports – from 30 to 29 days. To obtain export 6 documents  are necessary, for import – 8 documents.

In general, Ukraine’s position in the world ranking increased by 25 points. If last year’s report , our country ranks 137 among 185 countries surveyed this year – the 112th place among 189 participants rated .

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