Parliament intends to reduce rent payments for amber production
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The Verkhovna Rada has approved at first reading the government´s bill “On amendments to Article 252 of the Tax Code of Ukraine on adjusting the amount of rent payments for the use of subsoil for amber production,¨ No.2241.
A total of 265 MPs voted in favor of the bill on December 19, according to Ukrinform.

The draft law proposes that Article 252 of the Tax Code be amended and rent payments for amber production be reduced from 25% to 15% so that to promote legal amber production.

According to an explanatory note, the authors of the document expect that the bill will stipulate at the legislative level prerequisites for the introduction of additional incentives for economic entities to conduct legitimate amber extraction activities, which will result in the withdrawal of this activity from the "shadow" and, respectively, increase tax revenues.