THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Ukraine president changes tax law after protests

December 2, 2010

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Text size +

KIEV, Ukraine—Ukrainian President Viktor Yanukovych has succumbed to public pressure and changed a tax reform that sparked mass protests.

Yanukovych returned the bill to parliament Thursday insisting that tax breaks for small and medium-size companies be kept. Parliament moved quickly to approve the amended version of the bill. It is now up to Yanukovych to sign the bill into law.

The original bill called for raising taxes for smaller firms sparked over 10 days of mass protests by thousands of businessmen in Kiev and across the country. They said the new tax would make them bankrupt. The government insisted it needs to collect more taxes to fund pensions after a severe recession.

However, a lawmaker from Yanukovych's party suggested that the change was not final and taxes for smaller companies will be revisited in two months.

Boston.com top stories on Twitter

    waiting for twitterWaiting for Twitter to feed in the latest...