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4:49 AM Tuesday, June 27, 2017
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UBJ AM News: Jan. 3, 2017
Poroshenko signed laws simplifying the tax code and instituting a moratorium on inspections of SMEs, and EU imports of Ukrainian wheat declined threefold.
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

President Petro Poroshenko signed a bill amending the tax code and putting regional tax inspectorates in an advisory role, according to multiple news outlets. “No more raids by masked police and no more corruption schemes,” Poroshenko said. He expressed confidence that the quick implementation of the law would significantly improve investment climate in Ukraine.

The European Union, which was Ukraine's No. 2 recipient of wheat exports in the 2015-16 marketing year, imported three times less wheat in the same period this past marketing year, Ukrinform reported, citing UkrAgroConsult.

Naftogaz obtained a $500 million loan secured by a World Bank guarantee for the purchase of gas, multiple sources repoted.

The Odesa portside plant temporarily shut down because of high natural gas prices and its debt to Naftogaz, multiple news outlets reported.

Nibulon harvested over 340,000 tons of agricultural crops in 2016, a 10 percent rise from 2015, Interfax Ukraine reported. The company said on its website that this is the largest harvest in its history.

Top Ukrainian wireless carrier Kyivstar and its subsidiary StarMoney LLC intend to launch an initial suite of financial services in early 2017, most notably public transfers and payments to third parties, Interfax Ukraine reported.

President Petro Poroshenko has signed into law the bill introducing a moratorium on scheduled inspections of small and medium business until December 31, 2017, according to the presidential press service.

Money wiring into Ukraine picked up significantly in the third quarter of 2016, increasing 10 percent from the same period in 2015, according to several sources. The top countries for money transfers to Ukraine were, in order, Russia, the United States, Germany, Cyprus and Great Britain.

Infrastructure Minister Volodomyr Omelian said Ukraine might introduce subsidies for the purchase of electric vehicles, Novoe Vremya reported. Ukrainians went on an automobile-buying spree in 2016, and electric models are gaining considerable cachet.

Yanair is thinking about establishing its own flight school at the Zhytomyr airport, Interfax Ukraine reported. The airline director said pilots from all over Europe could get flight time and training there.

The monopoly regulator fined two major pharmaceutical companies for violating rules of fair competition, Novoe Vremya reported. Switzerland-based Hoffman-La Roche received the larger fine by far, while Venta also took a hit.

For comments and news tips, please email UBJ AM editor David Edwards at david.edwards@theubj.com.

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