The International Monetary Fund has predicted that the Ukrainian economy will grow by around 4.5 percent in 2007. Inflation is expected to be around 13.6 percent, slightly up on the 12.9 percent experienced in 2006.
The standard income tax rate for Ukrainian residents has been raised from 13% to 15% as of January 1 2007. The standard rate applies to most sources of income. Income received by non-residents is taxed at 30%, except for incomes paid by a Ukrainian employer.
Ukraine ranks 128th out of 175 countries in the world when it comes to the ease of doing business according to the annual Doing Business report released by the World Bank today. It climbed only 4 places from last year.
Georgia was the top performer moving 75 places from 112 to 37 after making reforms to many areas of its business regulations.
The Doing Business survey tracks indicators of the time and cost to meet government requirements in business start-up, operation, trade, taxation, and closure. It does not track variables such as macroeconomic policy, quality of infrastructure, currency volatility, investor perceptions, or crime rates.