Danyliuk to Launch 5-Year Tax Holiday for Small Businesses

Finance Minister Oleksandr Danyliuk is going to initiate a 5-year income tax holiday for small businesses with gross revenue of less than ₴3 million ($120,000). He stated this in a video blog published on his Facebook page.

"We have to cut expenses and save our budget, and also seek all possible incentives for business development, small business in particular," Danyliuk stressed.

"For sure, there are some risks. However, we scrutinized them and found they were minimal. This initiative won’t be used for systemic abuse. I believe it will speed up the development of small businesses," Danyliuk concluded.

Source: Ekonomichna Pravda