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:
“In ‘70 he married again, and I having, voluntarily, assumed the legal guilt of breaking my marriage contract, do cheerfully accept the legal penalty—a life of celibacy—bringing no charge against him who was my husband, save that he was not much better than the average man.”
—Jane Grey Swisshelm (1815–1884)
“If the Revolution has the right to destroy bridges and art monuments whenever necessary, it will stop still less from laying its hand on any tendency in art which, no matter how great its achievement in form, threatens to disintegrate the revolutionary environment or to arouse the internal forces of the Revolution, that is, the proletariat, the peasantry and the intelligentsia, to a hostile opposition to one another. Our standard is, clearly, political, imperative and intolerant.”
—Leon Trotsky (1879–1940)