KYIV, Sept 29 - The American Chamber of Commerce in Ukraine (ACC) has criticized the increase in tax rates, excise taxes and duties, as well as tax rules, proposed by the government in the draft state budget for 2021 and related bill No. 4101.

"Today business is operating in the global economic crisis caused by the COVID-19 pandemic, which has significantly affected Ukraine's economy and caused a significant decline in economic and investment activity in the country. Currently, Ukraine's leadership needs to understand how to recover the economy as soon as possible and promote its growth. Adoption of the proposed changes, according to the chamber member companies, will only worsen the situation and will not increase budget revenues," the agency said on its website.