Legal Environment
Since the late 1990s, the government has pledged to reduce the number of government agencies, streamline the regulatory process, create a legal environment to encourage entrepreneurs, and enact a comprehensive tax overhaul. Outside institutions — particularly the International Monetary Fund — have encouraged Ukraine to quicken the pace and scope of reforms and have threatened to withdraw financial support. But reforms in some politically sensitive areas of structural reform and land privatizations are still lagging.
On June 24, 2010 Ukraine's Foreign Minister Kostyantyn Hryshchenko signed an agreement on free trade with the European Free Trade Association (EFTA).
According to specialists, a double taxation avoidance treaty with Cyprus (signed in 1982 by the Soviet Union) has cost Ukraine billions of US dollars of tax revenues.
See also: 2008–2009 Ukrainian financial crisisRead more about this topic: Economy Of Ukraine
Famous quotes containing the words legal and/or environment:
“No oppression is so heavy or lasting as that which is inflicted by the perversion and exorbitance of legal authority.”
—Joseph Addison (1672–1719)
“The poorest children in a community now find the beneficent kindergarten open to them from the age of two-and-a-half to six years. Too young heretofore to be eligible to any public school, they have acquired in their babyhood the vicious tendencies of their own depraved neighborhoods; and to their environment at that tender age had been due the loss of decency and self-respect that no after example of education has been able to restore to them.”
—Virginia Thrall Smith (1836–1903)