No Full-Fledged Tax Code Before 2003

President Leonid Kuchma believes that the new Tax Code will not go into effect before 2003. “We should understand that the 2003 budget will be adopted on the basis of the old tax law,” the president said on December 21, addressing the top officials of Kirovohrad oblast. According to him, the current parliament will not be able to adopt an effective tax code. In addition, the head of state added, it will take another four to five months “to get the ball rolling” after the election of a new Verkhovna Rada, but the Tax Code can only be adopted if “worked upon for at least six months.” The president “categorically” opposes the adoption of an abridged Tax Code. “There must be a full-fledged code,” he underscored.