The draft law on tax liberalization was recently registered in the Parliament. The draft law provides for a number of changes in the Tax Code of Ukraine.

The most important change is introduction of lower base rates of VAT (15%; now 20%) and CIT (15%; now 18%). In addition, the draft law provides for establishment of certain online procedures for taxpayers and introduction of a three-year moratorium on changes to the core elements of tax and duty regulation, which shall bring stability and predictability for businesses in Ukraine.

The draft law is expected to be considered by the Verkhovna Rada in November.