New Tax Code to Come into Force as of January 1, 2002

In his speech at the meeting devoted to working out of next year’s draft budget Mykola Azarov, head of the Ukrainian Tax Service, said that the new tax code will come into full effect on January 1, 2002. While Verkhovna Rada claims the new tax code “to be practically adopted by the end of this year,” Mykola Azarov, according to the information given by the UNIAN Information Agency, recognizes the need to introduce its provisions by stages. This process could take up to a year. His opinion is shared by President Kuchma who added that the budget for 2001 “must not exert any pressure on taxpayers.”