Facts

Farmland turnover in Ukraine, tax reform to be agreed with public, intl partners

Farmland turnover in Ukraine, tax reform to be agreed with public, intl partners

Upcoming changes in the area of land relations, as well as improvement of tax legislation in the land sector will be developed with the assistance of international partners of Ukraine and members of the public, Ukrainian President Petro Poroshenko has said.

"We will introduce farmland turnover. Besides, same taxes should be applied to land owned by the state and land in private ownership," the head of state said at a meeting with local authorities of southern regions of Ukraine in Odesa on Thursday.

Poroshenko also noted that they were working on improving the administration of tax laws in land relations. He said advice would be sought from international partners and the public on this matter.

As reported, referring to a memorandum of cooperation signed by Ukraine and the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program, the Ukrainian government sought adoption of a bill on farmland turnover by late December 2016. Instead, Ukraine's Verkhovna Rada extended the moratorium on the sale of farmland imposed in 2002 until 2018.

According to the law on the national budget for 2017 posted on the Verkhovna Rada's website, executive agencies, the National Academy of Agrarian Sciences as well as national sectoral academies of science are to ensure the lease of state-owned land parcels on tender basis.

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