You're reading: Parliament to floor new Tax Code from Nov. 16

It is likely that the Verkhovna Rada, Ukraine's parliament, will debate and vote on the draft Tax Code next plenary week, according to the Rada's speaker.

"It’s likely that we’ll start discussing the issue next plenary week, from November 16," Speaker Volodymyr Lytvyn said at a meeting of parliament’s conciliatory council on Monday.

The agenda of the parliament’s session on Thursday this plenary week includes the draft Tax Code. However, Lytvyn said that over 4,000 amendments to the draft were submitted, and the committee for customs and tax policy had asked the lawmakers who were authors of amendments to thoroughly study their proposals and join in the discussion of them.

Lytvyn said that taking into account the need to prepare an integrated and approved document, it is likely that the parliament will not discuss it this Thursday.

In turn, the leader of the Regions Party faction, Oleksandr Yefremov, said that understanding that all amendments and remarks have to be approved, he asked the committee to work more actively to accelerate its discussion in parliament.

The head of the committee for tax and customs policy, Vitaliy Khomutynnyk, said that the committee sent nine out of 18 sections of the documents to the legal department in the Verkhovna Rada for approval.

"But these are the smallest sections, or 230 pages," he said.

"Today or tomorrow we’ll finish another three sections, and by Thursday 12 sections of the Tax Code could be put for consideration in the parliament, while the main sections would be left for next week – administration, VAT, tax on profit, final provisions and general provisions," he said.

Khomutynnyk said that the committee could propose only this option for the Tax Code’s consideration.