KIEV, Oct. 11 – The endorsement of the tax code would cut the tax burden in 2011 by over UAH 4 billion, Finance Minister Fedir Yaroshenko said during the debate on the draft Tax Code in Parliament.

"As a whole, the direct cuts on the tax burden next year alone will exceed UAH 4 billion, according to preliminary calculations," he said.

In addition, presenting the document in the parliament, the minister said that the draft Tax Code drawn up by the government is a product of a public compromise, which takes into accounts the interests of citizens, business and the state.