You're reading: Ukrainian parliament adopts tax code

The Verkhovna Rada, Ukraine's parliament, has adopted the Tax Code of Ukraine.

A total of 269 lawmakers out of the 348 registered in the parliament’s session hall on Thursday voted for a respective decision.

Under the same decision, the parliament passed a separate law amending a number of other current laws due to the adoption of the Tax Code.

The chairman of the parliament’s committee for customs and taxation policies, Vitaliy Khomutynnik, and Finance Minister Fedir Yaroshenko promised MPs that they would prepare for tomorrow’s meeting a bill of amendments to the Tax Code, which will take into account all of the proposals and remarks made during Thursday’s vote.

Before the vote for the adoption of the Tax Code, Bloc of Yulia Tymoshenko MP Ivan Kyrylenko criticized the adoption of the document, noting that the parliamentary majority "is making a gift to the Ukrainian people," and addressed the majority: "We are returning this gift to you."

The main provisions of the Tax Code, if it is signed by Ukrainian President Viktor Yanukovych, will come into force on Jan. 1, 2011.