Ukrainian President Viktor Yanukovych has reorganized the State Tax Service and the State Customs Service into the Ministry of Revenues and Duties of Ukraine.

A respective decision by the head of state is stipulated in his decree, No. 726/2012, which was posted on the Web site of the Ukrainian president on Monday.

"I decree to reorganize the State Customs Service of Ukraine and the State Tax Service of Ukraine into the Ministry of Revenues and Duties of Ukraine, and to empower the ministry, which is being formed, to fulfill the function on the administration of a single obligatory state social insurance contribution," reads the document.

Earlier on Monday, the president dismissed Head of the State Tax Service Oleksandr Klymenko, who is considered by analysts as a key candidate to head the new ministry.