You're reading: Party leader: Adoption of new Tax Code will drag Ukraine back to the 1990s

Parliament should not adopt the Tax Code without taking into account the opinions of businessmen, according to the leader of Ukrainian Social-Democratic Party, Yevhen Korniychuk.

"We’re calling on the government and the parliament to listen to the businessmen. Those proposals that were heard today on activities taxed with single tax could lead to the elimination of small and medium business. In many European social-democratic countries, small and medium business is the basis of the economy," he said at a meeting with businessmen on Wednesday.

Korniychuk added that tax novelties could lead to a jump in unemployment in the country.

"According to assessments of specialists, today hidden unemployment in Ukraine is 15-20%. After the approval of the Tax Code, the number of unemployed could double, and the state would have to subsidize this," he said.

He said that the adoption of the Tax Code could lead to the fact that small and medium business would stop paying taxes and go into the shadows, as they were in the 1990s.