Economy 2021-07-15T05:33:43+03:00
Ukrainian news
Ukraine Falls 11 Positions And Becomes 65th In Paying Taxes 2020 Rating

Ukraine Falls 11 Positions And Becomes 65th In Paying Taxes 2020 Rating

World Bank, Paying Taxes, PwC, Paying Taxes 2020

Ukraine has fallen by 11 positions and became the 65th on the rating list of Paying Taxes 2020 prepared by the World Bank and the PwC audit company.

PwC has said this in a statement, Ukrainian News Agency reports.

The results of the rating were published on November 26.

The loss of the positions by Ukraine was conditioned by, first of all, active actions of other state aimed at automation of processes and reduction of time for administration of taxes.

Hungary has considerably cut the period of examination of income tax reporting corrections and gained many positions having jumped from 86 to 56.

Portugal, France, Poland and Lithuania have introduced online reporting to tax bodies.

On average, it takes domestic businesses 328 hours a year to report on taxes, which is twice as much as in developed countries.

As Ukrainian News Agency earlier reported, Ukraine has moved upwards from the 71st to 64th position on the Doing Business 2020 rating.

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