Ukraine has progressed from the 84th to the 43rd place among 190 countries in the Paying Taxes 2017 rating. This is said in a statement by the PricewaterhouseCoopers following the results of tax systems analysis carried out by the World Bank and PwC. At that, the Republic of Moldova placed the 32nd, Romania the 42nd, the Slovak Republic the 49th, the Republic of Poland the 51st, the Russian Federation the 52nd, the Republic of Bulgaria the 90th and the Republic of Belarus the 38th. PwC conducted the analysis among companies fully belonging to Ukrainian stockholders, having annual income of at least UAH 31 million, employing at least 60 people, and not engaged in exporting their goods and services. The average effective income tax rate before tax is 37.8%, while in the EU the indicator is 39.6% and the global indicator is 40.5%. The number of tax payments in Ukraine is 5; 12 in the European Union, 16.2 in Eastern Europe and Central Asia and 24 all over the world. The time taken by VAT refund (hours) in Ukraine is 16 hours, 7.1 hours in the EU, 16.8 hours in Eastern Europe and Central Asia and 18.4 hours on average all around the world. The Paying Taxes 2018 analysis is one of the elements of the World Bank's Doing Business 2018 research. As Ukrainian News Agency earlier reported, on October 4, the Cabinet of Ministers of Ukraine approved the bill replacing the income tax with an analogue of the tax on capital brought abroad.