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Ukraine needs low tax rates to boost IT

Low tax rates are necessary to develop the IT industry and bring new software products onto the global market, according to the head of the Ukrainian State Agency for Science, the National Radio Company of Ukraine reports.

“The negative trade balance can be offset neither by energy saving nor by increasing the sales of traditional industries and agriculture. Indeed, it is possible to even the balance only due to new products that are competitive in the global market. These products primarily include software,” said Volodymyr Semynozhenko, chairman of the State Agency for Science, Innovation and Informatisation at a meeting of the European Business Association on 30 July.

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