Year by year, its policies are harmonizing and moving towards a business environment. The country has attained its GDP increase of 4,6.
The government has approved its Strategic Action Plan 2020, including support of innovation initiatives cancelation of 450 regulations, focus on the corporate governance of privatization and state agencies, and more. Moreover, Ukraine has gone 32 positions up within the previous five years at the World Bank's simplicity of Doing Business 2020 standing by introducing a range of regulations. It simplified the process by reducing charges, of dealing.
The nation also made paying taxes easier by introducing a lower flat rate of 22% to the Unified Social Contribution tax paid by companies (which replaced the previous rates ranging from 36,76% to 49,7%). All this contributed to the growth and development of the local IT community and sparked small business owners for IT outsourcing to Ukraine.
