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Updated tax code could become law

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Dec. 2, 2010, 2:16 p.m. | Ukraine — by Interfax-Ukraine

The new tax code could become law from Monday

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The Ukrainian parliament could vote on the tax code at second reading again on December 3, according to Deputy Speaker Mykola Tomenko (BYT). "As the president is to return the document with his remarks, in line with Articles 134 and 135 of the Verkhovna Rada's regulations, each proposal of the president would be voted on separately. If all of the proposals were approved, the new Tax Code would be considered endorsed with a majority vote of the constitutional number of lawmakers, that is 226 MPs," read a statement by Tomenko released by his press service on Thursday.

He said that according to Article 136 of the parliament's regulations, a law approved after repeated consideration with president's proposals is registered by the main committee and submitted to the speaker for signature, who signs it and urgently sends it to the Ukrainian president.

"In theory, the new Tax Code could become law from Monday," he said.

He added that he was surprised by statements that it was necessary for there to be 300 votes for the approval of the code.

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