KIEV, July 19 - The Cabinet of Ministers sent Parliament a draft law on the land market (No. 9001-1) on Tuesday.

According to the bill's explanatory note, the objectives of the document are to finalize the creation of market-oriented conditions for the involvement of agricultural land in the economy, to form a transparent land market with competition-based sales of farmland, and to ensure the collection of taxes and duties, particularly from land sales and rent, as well as state tax on transactions in the land market.

In addition, the document also sets common rules and limitations on the sale of plots of land on the market.

Under the bill, Ukrainian citizens, agribusinesses, the state - represented by a central agency for land resources - or territorial communities are allowed to buy agricultural land in Ukraine.