KIEV, Aug. 6 – The adoption of the recently published tax code would worsen the situation in small business, according to a lawyer from ILF law firm, Ivanna Pohrebniak.

"The Tax Code in its present state would develop non-transparent relations between business and the tax service. The new tax requirements for small business companies are rather tough. Only those individuals whose income does not exceed UAH 300,000 per year would be able to pay single tax, while now individuals who receive up to UAH 500,000 can pay a single tax," a firm press release reads, citing Pohrebniak.