A council for stimulating investment and business has been created at the Income and Tax Ministry of Ukraine, reads a report of the ministry's press service issued on Monday.

The press service said that the decision was made at a first consistent meeting of the ministry. The council will include the income and tax minister, his deputies, representatives of Ukrainian business, foreign investors, nongovernmental organizations, sector associations and international financial and consulting organizations. It is planned that the council will have 50 members.

"All experts attracted will prepare joint recommendations on the further development of the tax and customs policy in Ukraine aimed at improving the investment climate – from organizational changes in the operation of the ministry and its territorial agencies in drawing up new laws," reads the report.

The ministry said that the first meeting of the council will be held within next month.

As reported, Income and Tax Minister of Ukraine Oleksandr Klymenko initiated the creation of the investment council to strengthen partnership relations and direct dialog with Ukrainian and foreign investors. It was also planned to create several working groups on the basis of the council, which will work on improving the investment climate, matters of taxes and duties, and legal initiatives.